Shares up 11.6% premarket (Il Sole 24 Ore Radiocor) - New York, 22 Aug - Peloton said its loss in its fiscal 2024 fourth quarter was 30.5 million dollars compared to a loss of 241.8 million in the same period a year ago.

In a letter to shareholders, the fitness group said its loss per diluted share was 0.08 dollars compared to a loss of 0.68 a year earlier. Analysts were expecting a loss of 0.17 dollars a share.

Revenue in the three months ending June 30 was 643.6 million dollars compared to 642.1 million in the same period a year ago and 631 million expected by analysts.

The company is restructuring after former CEO Barry McCarthy resigned earlier this year.

"With a stable financial foundation now in place, we can focus on innovation in a more strategic way, enhancing our Member experience and driving sustainable, profitable growth over the long term," Peloton said in the letter.

At 1300 Peloton shares were up 11.6% in premarket trade.

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(RADIOCOR) 22-08-24 15:09:44 (0384) 5 NNNN