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Weight Watchers results disappoint

Larry Busacca/Getty Images for Weight Watchers
Singer Jennifer Hudson is a spokeswoman for Weight Watchers, which is seeking to lower overhead costs for meetings.
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Weight Watchers International Inc. plunged the most since its initial public offering in 2001. The diet services provider reported profit that missed analysts’ estimates, citing challenges in its core meetings business. It said first-quarter net income was $54.6 million, or 74 cents per share, down from $73.6 million, or $1 per share, a year earlier. Analysts expected earnings of 78 cents per share.