Planet Fitness reports strong Q3 results and approves $500 million share repurchase
PLNT Planet Fitness Inc
$61.34 +0.38%
View chart & analysis → - 1Planet Fitness recorded Q3 revenue of $360 million, exceeding the Q3 consensus revenue of $347.68 million.
- 2Planet Fitness approved a share repurchase program of up to $500 million.
- 3Planet Fitness lowered its expectations for new equipment deployment in franchised locations.
So what's the key point?
Planet Fitness earned more revenue than experts expected. The company decided to buy back $500 million of its own shares, which is good news for investors.
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