Weight Watchers International, Inc. (NYSE: WTW) rose after the company reported stronger-than-expected results for its third quarter and raised its FY17 guidance.
The New York-based company reported Monday revenues in Q3 2017 were $323.7 million. On a constant currency basis, Q3 2017 revenues increased 13.9% versus the prior year period. Net income was $44.7 million compared to $34.7 million in the prior year period.
According to CEO Mindy Grossman, "Weight Watchers delivered strong performance across all major geographies in the third quarter, which resulted in high-quality earnings results.
"We are excited about the upcoming winter season and the launch of our new program, which has received highly positive and enthusiastic feedback in consumer trials. We have a tremendous opportunity to continue to evolve Weight Watchers into a global, healthy living brand."
The company’s CFO, Nick Hotchkin, sounded an optimistic note for the future.
"We are confident our business momentum will continue throughout the balance of the year, and therefore, we are raising our earnings guidance for the full year 2017."
Weight Watchers points to its status as "one of the most recognized and trusted brand names among weight-conscious consumers.
"Weight Watchers provides commercial weight management services through a global network of Company-owned and franchise operations and offers innovative, digital weight management products through its websites, mobile sites and apps."
Weight Watchers shares gained $7.85, or 17.5%, to $52.65, within a 52-week trading range of $9.88 to $49.32.
