Weight Watchers stock falls nearly 20% as subscriber growth slows

WW International Inc. WW, +4.36% shares tanked astir 20% successful the extended league Tuesday aft the institution formerly known arsenic Weight Watchers reported second-quarter income beneath Wall Street expectations and said it ended the 4th with less members than it had expected. WW said it earned $8.9 million, oregon 12 cents a share, successful the quarter, compared with $14 million, oregon 20 cents a share, successful the year-ago quarter. Revenue fell to $311 cardinal from $334 cardinal a twelvemonth ago. Analysts polled by FactSet expected WW to study EPS of 66 cents a stock connected income of $338 million. WW ended the 4th with 4.9 cardinal full subscribers, down from 5 cardinal successful the 2nd 4th of 2020. "Strong" maturation momentum for integer subscribers slowed successful the 2nd 4th "as we cycled against beardown integer show successful 2020," Chief Executive Mindy Grossman said successful a statement. "We person a broad program to optimize show successful the 2nd fractional of the twelvemonth and presumption america good for maturation successful 2022." WW guided for full-year 2021 gross approaching $1.3 cardinal and GAAP EPS successful a scope betwixt $1.10 and $1.25. Shares of WW ended the regular trading time up 4.4%.