WW - WW International trades higher despite earnings miss downside outlook

WW International (NASDAQ:WW) up over 4% after missing top and bottom line-estimates for the third quarter. Revenue was down 8% on the year to $293.5M, well below the $314.77M estimates, and GAAP EPS was $0.65, missing estimates by $0.03. Subscription Revenues declined 7.9% year-over-year on CC to $262.4M. Operating Income of $80M; excluding one-time charges, adjusted operating income was $88M. Gross Margin in Q3 2021 was 60.7%. Adjusted gross margin was 62.3%, up from an adjusted gross margin of 59.6% in the prior year. End of period subscribers decreased ~8% Q/Q to 4.5M, while Digital Subscribers were down 9.8%. Cash balance as of October 2, 2021 was $188.2M. 2021 outlook: Revenues expected to be modestly above $1.20B vs. the consensus of 1.29B; sees GAAP EPS between $0.80 to $0.90 vs. the consensus of $1.29. GAAP EPS includes $0.51 aggregate negative impact from the early extinguishment of debt and estimated restructuring charges, slightly offset by

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WW International trades higher despite earnings miss, downside outlook