After the market close on Thursday, Aug. 3, the provider of weight management services reported second-quarter earnings of 67 cents, beating the earnings of 51 cents a share analysts surveyed at Factset expected. The company posted revenue of $342 million, slamming Wall Street's estimates for revenue of $334 million.
Weight Watchers also raised its full-year earnings guidance to $1.57 to $1.67 a share, compared to its previous guidance of $1.40 to $1.50 a share.
The company's shares soared around 20% to $39.70 in after-hours trading.
Meanwhile, Weight Watchers has just begun getting used to a new chief executive. Mindy Grossman, the former CEO of home goods retailer HSN Inc. (HSNI) (Home Shopping Network) took the helm just one month ago, on July 1.
"I'm really impressed with the quality of the results and the work that's been done to become sustainable and continue momentum while we're building the future," Grossman said in an interview with TheStreet on Thursday.
Grossman replaced former CEO James Chambers who resigned in September from Weight Watchers, sparking a nationwide search for a new company chief led in part by shareholder, board member and spokeswoman Oprah Winfrey. Grossman held executive positions at retailers such as Nike Inc. (NKE) - Get Report and Ralph Lauren Corp. (RL) - Get Report .
Grossman said it is "very powerful" to now be making the decisions at a company that has such a significant impact on its customers, as they are using Weight Watchers to try to "change their lives."
"My leadership and management style is not specific to a company, it's a philosophy and it's served me well my entire career," Grossman told TheStreet.
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