WW International Slips 20% On Q2 Results

(RTTNews) - Shares of WW International Inc. (WW) are slipping nearly 20% in extended trading session after reporting second-quarter results.

WW closed Tuesday's trading at $32.29, up $1.35 or 4.36%, on the Nasdaq. The stock, however, slipped $6.28 or 19.45%, in the after-hours trade.

Revenues for the quarter dropped to $311.5 million from $333.6 million last year.

WW International reported second-quarter net income of $8.9 million or $0.12 per share, down from $14.0 million or $0.20 per share last year.

Analysts polled by Thomson Reuters expected earnings of $0.65 per share on revenues of $337.1 million for the quarter.

"We ended the quarter with 4.9 million subscribers, including 4.1 million Digital subscribers -- an all-time second quarter-end high and up 6% year-over-year, but below our expectations. The strong Digital year-over-year growth momentum in Q1 slowed in the second quarter as we cycled against strong Digital performance in 2020," said Mindy Grossman, the Company's President and CEO.

Looking forward to the full year, the company expects revenues to approach $1.3 billion and earnings of $1.10 to $1.25 per share. Analysts currently estimate earnings of $2.00 per share on revenues of $1.38 billion.