Weight Watchers International shares are on a tear after the company raised its full-year earnings outlook, calling for a push within its massive subscriber base to round out fiscal 2017.

“We are excited about the upcoming winter season,” Chief Executive Mindy Grossman said in prepared remarks. “We are confident our business momentum will continue throughout the balance of the year.”

Weight Watchers shares were climbing nearly 13 percent in premarket trade Tuesday on the news.

On Monday evening, Weight Watchers reported net income of $44.7 million, or 67 cents a share, for its fiscal third quarter, up from $34.7 million, or 53 cents per share, one year ago.

Analysts were calling for earnings of 51 cents a share, according to a survey by Thomson Reuters.

Weight Watcher’s quarterly revenue climbed 15 percent, to $323.7 million, up from $280.8 million during the same period last year. Analysts were calling for sales of $316 million, Thomson Reuters said.

Not expecting to slow down anytime soon, Weight Watchers has raised its earnings outlook for the full year, now expecting to earn between $1.77 and $1.83 a share. That compares to a prior forecast of earning between $1.57 to $1.67 per share.

The weight-loss company ended the latest quarter with 3.4 million subscribers, up 18 percent on a year-over-year basis.

Weight Watchers owes some of its success to celebrity icon Oprah Winfrey, who acquired a stake in the business about two years ago and became the face of its campaigns. Since then, Weight Watchers has posted eight consecutive quarters of membership increases.

As of Monday’s market close, Weight Watchers shares have risen more than 290 percent in 2017.

Source: Investment Cnbc
Weight Watchers shares soar on earnings beat, heightened outlook