When Weight Watchers International Inc. (NASDAQ: WW) reported its most recent quarterly results after the markets closed on Thursday, it posted a net loss of $0.16 per share and $363.2 million in revenue. Consensus estimates had called for a net loss of $0.26 per share and $366 million in revenue for the fiscal second quarter, and the same period of last year reportedly had earnings of $0.56 per share and revenue of $408.2 million.
During the latest quarter, subscribers increased 0.9% over the prior year period, primarily due to the higher subscriber level at the start of fiscal 2019 compared with the start of last year. Digital Subscribers were up 7.2% and End of Period Studio + Digital Subscribers were down 10.4%.
Total paid weeks in the first week were up 4.2% year over year. Digital Paid Weeks increased 12.2% and Studio + Digital Paid Weeks decreased 8.6%.
Looking ahead to the 2019 full year, the company expects to see EPS in the range of $1.35 to $1.55 and revenues of $1.4 billion.
Mindy Grossman, president and CEO, commented:
Trends improved sequentially throughout the quarter, resulting in 4.6 million subscribers at quarter end, up 1% year-over-year. We are confident that our strategy to focus on providing holistic wellness solutions leveraging our best-in-class weight management program is the right path to support long-term sustainable growth.
Shares of Weight Watchers were last seen up almost 19% at $24.14 on Friday, in a 52-week range of $17.58 to $20.70. The consensus price target is $28.09.
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