WW International, Inc. stock has lost almost 80% of its value since my previous article in March 2023, which I published soon after the company announced the Sequence acquisition. Expansion into clinical services poses risks of cannibalization and increased competition for WW International's core weight loss business. The strategic shift towards digital subscriptions and clinical services may limit WW International's potential for long-term competitive advantages and growth.
WW International, Inc. (NASDAQ:WW ) Q2 2024 Earnings Call August 1, 2024 8:30 AM ET Company Participants Corey Kinger - Vice President, Investor Relations Sima Sistani - Chief Executive Officer Heather Stark - Chief Financial Officer Conference Call Participants Jack Wallace - Guggenheim Securities Henry Carr - UBS Nathan Feather - Morgan Stanley Alex Fuhrman - Craig-Hallum Stephanie Davis - Barclays Karru Martinson - Jefferies Operator Welcome to the WW International's Second Quarter 2024 Earnings Conference Call. [Operator Instructions] I'd now like to turn the call over to your host, Corey Kinger, VP Investor Relations.
WW International (WW) came out with a quarterly loss of $0.13 per share versus the Zacks Consensus Estimate of $0.03. This compares to loss of $0.04 per share a year ago.
Shares of WW International Inc., formerly known as Weight Watchers, dropped 1.9% into record-low territory, after the weight management company reported disappointing second-quarter results, lowered its full-year outlook and announced a restructuring plan. Net income fell to $23.3 million, or 29 cents a share, from $50.8 million, or 65 cents a share, in the same period a year ago.