Why WW International's Stock Popped 12% Wednesday
Shares of WW International (NASDAQ: WW), a global wellness company and well-known weight management program, jumped over 20% during trading Wednesday before settling to a 12.2% gain, after the company released first-quarter results.
WW International sales jumped 10% to $400 million, right at levels analysts estimated. WW lost $0.09 per share during the first quarter, an improvement from the prior year's $0.16 loss per share and well ahead of analysts calling for a $0.23 loss.
Management noted subscriptions were up 9% to 5 million subscribers compared with the prior year, which was good enough to set a first-quarter record. "Our business had a very strong start to the year, driven by the successful launch and marketing of our new myWW program and increased awareness from the WW Presents: Oprah's 2020 Vision tour," said CEO Mindy Grossman.
Source Fool.com
