WW International's Slimmed-Down Profits: Cost Cuts Help, But Subscriber Losses Weigh On Q3 Results

WW International, Inc. (NASDAQ:WW) shares are trading lower after the company reported mixed third-quarter results.

Net revenues for the quarter declined 10.2% year-over-year to $192.9 million, missing the consensus of $193.439 million. Subscription revenues were down 6% YoY, while other revenues fell 85.6%.

Adjusted gross profit was $133.3 million, down from $142.2 million a year ago. The adjusted gross margin stood at 69.1%, up from 66.2% YoY, reflecting cost reductions and discontinuation of lower-margin consumer products.

The company’s third-quarter adjusted operating income was $35.7 million, excluding major impairment, restructuring, and CEO separation costs, ...