Planet Fitness (PLNT) Stock Jumps on Earnings Beat, Strong Outlook

Planet Fitness (PLNT) shares are up over 10% after the company beat analysts' third quarter earnings and revenue expectations.
By Tony Owusu ,

NEW YORK (TheStreet) -- Planet Fitness (PLNT) - Get Report shares are up by 12.77% to $16.95 on heavy trading volume Friday, following the release of the company's third quarter financial results on Thursday.

The Newington, MA-based gym chain reported a loss of $3.9 million for the quarter, or earnings of 10 cents per share on an adjusted basis versus analysts' 9 cents per share profit expectations.

Revenue for the period was $68.8 million, also topping analysts' $66.3 million guidance.

For the year, the company expects to earn between 51 cents and 52 cents per share on revenue between $318 million and $321 million.

Analysts are expecting the company to earn 47 cents per share on revenue of $315 million for the fiscal year.

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