Weight Watchers Just Had an Epic First Quarter

Shares of weight loss company Weight Watchers were little changed on Friday despite the company announced strong first quarter results on Thursday.

The company topped analyst’s expectations and even beat its financials from the year ago period. For the first quarter Weight Watchers reported earnings of 56 cents with revenue of $408.2 million. Earnings saw a growth of 230% from the year ago period and beat the 49 cents that analysts had expected. Revenue was also a beat as analysts had expected $392 million.

Operating income for the period was doubled compared to the period last year at $62 million. Gross margins also hit a record of 54.1%.

The company also reported the highest level of subscribers in its history at 4.6 million subscribers.

“We’re thrilled with the momentum and the execution of the team,” Chief Executive Officer Mindy Grossman stated.

According to the CEO, the record-high membership was achieved due to the positive response that the company had received from its Freestyle program.

Shares did soar 7% in after-hours trading on Thursday.

Disclaimer: We have no position in Weight Watchers International, Inc. (NYSE: WTW) and have not been compensated for this article.