WW International Inc. WW, +4.36% shares tanked nearly 20% in the extended session Tuesday after the company formerly known as Weight Watchers reported second-quarter sales below Wall Street expectations and said it ended the quarter with fewer members than it had expected. WW said it earned $8.9 million, or 12 cents a share, in the quarter, compared with $14 million, or 20 cents a share, in the year-ago quarter. Revenue fell to $311 million from $334 million a year ago. Analysts polled by FactSet expected WW to report EPS of 66 cents a share on sales of $338 million. WW ended the quarter with 4.9 million total subscribers, down from 5 million in the second quarter of 2020. “Strong” growth momentum for digital subscribers slowed in the second quarter “as we cycled against strong digital performance in 2020,” Chief Executive Mindy Grossman said in a statement. “We have a comprehensive plan to optimize performance in the second half of the year and position us well for growth in 2022.” WW guided for full-year 2021 revenue approaching $1.3 billion and GAAP EPS in a range between $1.10 and $1.25. Shares of WW ended the regular trading day up 4.4%.
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