Weight Watchers up 9% after earnings beat

Weight Watchers shares spiked by as much as 9% in after-hours trading after the company reported earnings.

While earnings and revenues topped analysts' forecasts, the number of active subscribers fell year-on-year.

Weight Watchers has struggled to scale its membership in the face of competition from free apps, according to analysts.

The weight-loss-assistance company said it earned $273.3 million in third-quarter revenues, down 20.8% year-on-year, while beating the forecast for $266.3 million.

Adjusted earnings per share was $0.38, topping the forecast for $0.29.

Last month, Weight Watchers announced that Oprah Winfrey joined its board and bought a 10% stake in the company.

Shares went parabolic after that announcement, spiking by more than 100% the day it dropped. Yet year-to-date, shares are down 32%.

Weight Watchers said it will launch a program in December that will help people not just lose weight, but "lead healthier, happier lives".

Weight Watchers raised its outlook for full-year 2015 earnings to between $0.64 and $0.74 per diluted share, from $0.57 and $0.72.

Reuters/Brendan McDermid

A trader passes by the ticker for Weight Watchers International Inc displayed on a screen on the floor of the New York Stock Exchange October 19, 2015. Oprah Winfrey will buy a 10 percent stake in Weight Watchers International Inc, adding her celebrity and consumer appeal to a diet brand that has been shedding subscribers.