Planet Fitness Inc. shares rose in the extended session Tuesday after the gym operator’s quarterly results and outlook topped Wall Street estimates. Planet Fitness shares rallied 6.3% to $27.20 after hours. The company reported third-quarter net income of $15.3 million, or 18 cents a share, compared with $3.4 million, or 8 cents a share, in the year-ago period. Adjusted earnings were 19 cents a share. Revenue rose to $97.5 million from $87 million in the year-ago period. Analysts surveyed by FactSet had estimated 16 cents a share on revenue of $93.6 million. For the year, Planet Fitness estimates earnings of 80 cents to 82 cents a share on revenue of $425 million to $430 million. Analysts had forecast earnings of 78 cents a share on revenue of $415.4 million.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News