Weight Watchers Surges After Oprah Effect Helps Fuel Profit
- Profit of 16 cents compared with projections for a 4-cent loss
- Company raises 2017 forecast after ‘strong start to year’
Oprah Winfrey
Photographer: Moeletsi Mabe/Sunday Times/Gallo Images/Getty ImagesThis article is for subscribers only.
Weight Watchers International Inc. surged after the diet company backed by Oprah Winfrey posted an unexpected profit and added subscribers for the fifth straight quarter.
The shares jumped as much as 19 percent to $25.20 Wednesday in New York, the highest intraday price for the stock since December 2015. They had already climbed 85 percent this year through Tuesday’s close.