Teladoc Stock Tumbles After Company Misses Sales Estimates and Offers Soft Guidance

Dow Jones2023-10-25

Teladoc Health Inc.’s stock tumbled 6.8% in after-hours trading Tuesday, after the virtual care company posted a narrower-than-expected loss for the third quarter but revenue that fell short of estimates.

Purchase, N.Y.-based Teladoc posted a net loss of $57.1 million, or 35 cents a share, for the quarter, narrower than the loss of $73.5 million, or 45 cents a share, posted in the year-earlier period.

Revenue rose 8% to $660.2 million from $611.4 million a year ago. The FactSet consensus was for a loss of 37 cents and revenue of $664.0 million.

The company offered guidance for the full year that also lagged consensus. It said it now expects a fourth-quarter loss of 33 cents to 23 cents a share and revenue of $658 million to $683 million. The FactSet consensus is for fourth-quarter loss of 18 cents a share and revenue of $687.0 million.

The stock has fallen 23% in the year to date, while the S&P 500 has gained 10.6%.

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Naz82
2023-10-25
Naz82
is this a safe buy?

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