REUTERS/Danny Moloshok/File Photo (Reuters)
Oprah’s investment in Weight Watchers (WTW) is already paying off big time in just two short years.
Shares are up around 20%, hitting a four-year high, after the company raised its full-year outlook during its third-quarter earnings call Monday. The company said its quarterly revenue has climbed 15%, to $323.7 million.
To top it off, its subscriber base is up 18% year-over-year to 3.4 million, thanks to the company’s third biggest shareholder – and spokeswoman – Oprah Winfrey.
The media mogul bought a 9.89% stake in the company in 2015 at $6.79 per share, and has seen the price climb to around $52 today.
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