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Weight Watchers revenue beats Street, shares jump

A Weight Watchers center in Culver City, Calif.
Jordan Strauss | WireImage | Getty Images
A Weight Watchers center in Culver City, Calif.

Weight Watchers International Inc reported better-than-expected second-quarter revenue as the number of active subscribers rose in Central Europe, sending its shares up 15 percent in extended trading.

The company, which offers plans that help lose weight and makes diet foods, also raised its full-year profit outlook to $1.65-$1.85 per share from $1.45-$1.70 per share.

Net income fell to $54 million, or 95 cents per share, in the quarter ended June 28, from $64.9 million, or $1.15 per share, a year earlier.

Excluding items, the company earned 98 cents per share.

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Net revenue fell 15.5 percent to $397.5 million.

Analysts on average had expected earnings of 77 cents per share on revenue of $387.7 million, according to Thomson Reuters I/B/E/S.

Marketing expenses fell 35 percent in the quarter.

Weight Watchers' shares closed at $21.01 on the New York Stock Exchange on Wednesday.

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