Weight Watchers spikes after posting a smaller-than-expected loss
May. 2, 2019, 03:36 PMjumped 5% after posting a smaller-than-expected first-quarter loss on Thursday evening.trade live.
The company reported an adjusted loss of $0.16 a share, beating the $0.26 loss that analysts surveyed by Bloomberg were expecting. Revenue for the quarter came in at $363 million, 1% below the $366 million that was anticipated. Management had previously warned of decreasing revenues on its fourth-quarter call, referencing a"slow start" to the 2019 diet season. The company has sought to introduce new innovations to its business in recent years, such as the Weight Watchers app, which operates via a subscription service. The app assigns every food you eat a point value with users having a point limit for each week., avoiding losses in the tens of millions of dollars.
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