Why Weight Watchers International Shares Soared Today
Shares of Weight Watchers International (NYSE: WTW) are soaring today, up by 16% as of 11:00 a.m. EST, after the company reported third-quarter earnings. Results came in better than expected and the weight-loss specialist also raised its full-year guidance.
Revenue in the third quarter was $324 million, topping the Street's consensus estimate of $316 million in sales. That translated into net income of $44.7 million, or $0.65 per share, also ahead of the $0.51-per-share profit that analysts were expecting. The company ended the quarter with 3.4 million subscribers, and total paid weeks were up 20%.
Operating income jumped 34% on a constant currency basis to $91 million.
Source: Fool.com
