Weight Watchers Cuts Forecast; Profit Falls
- Share via
Weight Watchers International said its quarterly profit dropped, and it blamed the popularity of low-carbohydrate diets in the United States for a lower full-year forecast.
Net income fell to $36.8 million, or 34 cents a share, in the first quarter, which ended April 3, from $40.6 million, or 37 cents, a year earlier, a spokesman said. Revenue climbed 12% to $281.4 million.
The company expects to earn $1.70 to $1.80 a share for the year, down 10% from an earlier forecast of $1.90 to $2.
Shares of Weight Watchers, based in Woodbury, N.Y., fell as much as 9% to $34.34 in after-hours trading on the NYSE. In regular trading, the shares had risen $1.23 to $37.74.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
