Planet Fitness Shares Higher As Earnings Beat Wall Street's Expectations

By Sue ChangMarketsMarketWatch Pulse

Shares of Planet Fitness Inc. climbed in Wednesday's extended session after the low-cost gym posted better-than-expected earnings. Planet Fitness reported its second-quarter earnings rose to $12.4 million, or 16 cents a share, from $4.1 million, or 11 cents a share, a year earlier. On an adjusted basis, it would have earned 22 cents a share. Revenue grew 17% to $107.3 million while same-store sales rose 9%. Analysts surveyed by FactSet had forecast earnings of 19 cents a share on revenue of $102 million. For 2017, Planet Fitness projected revenue of $409 million to $415 million with same-store sales expected to grow in a range of 8% to 9%. It also forecast adjusted earnings per share of 76 cents to 78 cents. Shares rose 2.4% after hours.

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