Weight Watchers stock (NASDAQ:WTW) was plummeting late in the day as the company reported its latest quarterly earnings results after the bell on Thursday, which saw the company beat earnings expectations but miss what analysts were calling for on the revenue front.
The company said that for its third quarter of fiscal 2018, it brought in earnings of $70 million, or $1 per share in the period, which is stronger than its $45 million, or 65 cents per share from the year-ago quarter. The diet company added that it topped the 99 cents per share that analysts were calling for it to earn during the period, according to data compiled by FactSet.
Revenue was strong for Weight Watchers in one sense as it rose 13% from one year to the next, reaching $366 million. However, the figure failed to reach the $379 million that analysts who were polled by FactSet were calling for.
The company said that it ended its third quarter with 4.2 million subscribers. a 25% surge year-over-year. Weight Watchers also increased the range of its fiscal 2018 earnings guidance to between $3.15 per share and $3.25 per share, ahead of its previous guidance of $3.10 per share to $3.25 per share.
WTW stock gained about 3.6% during regular trading hours in anticipation of the company’s quarterly earnings results, which sent shares sliding about 14.6% after the bell as the company’s revenue was below what analysts were calling for.