Weight Watchers (NASDAQ:WW) reported its latest quarterly earnings results late today, bringing in a loss that was narrower than analysts expected, while its revenue was below the mark, yet WW stock surged after hours.
The New York-based health and lifestyle business said that for its first quarter of its fiscal 2019, it brought in a loss of $10.7 million, or 16 cents per share, well below its profit from the year-ago quarter of $39.1 million, or 56 cents per share. This amount was narrower than the Wall Street consensus estimate of a loss of 26 cents per share, according to data compiled via a Refinitiv survey of analysts.
Weight Watchers added that its revenue for the period tallied up to $363.2 million, which marked a decline of 8.5% when compared to the same quarter during its fiscal 2018. The Wall Street guidance saw the business as bringing in net sales of $365.9 million, according to the Refinitiv survey of analysts.
The company added that it did have a “soft” start for the beginning of its fiscal 2019 in recruiting members, which played a role in its stock sliding. However, Weight Watchers did increase its full-year forecast as it now sees its earnings to be in the range of $1.35 to $1.55 per share, ahead of its previous guidance of $1.25 to $1.50 per share.
The brand also reiterated its revenue guidance of about $1.4 billion.
WW stock is up approximately 4.7% after the bell Thursday following the company’s strong quarterly earnings results, which included a loss that was narrower than analysts expected. Shares had been increasing 2.1% during regular trading hours as the company geared up to report its results.