MW Teladoc stock drops after another quarterly loss for telemedicine company
Shares of Teladoc Health Inc. (TDOC) fell more than 6% in the extended session Tuesday after investors looked past a narrower quarterly loss and sales that were above expectations. Teladoc said it lost $11 million, or 7 cents a share, in the fourth quarter, compared with a loss of $394 million, or $3.07 a share, in the year-ago period. Revenue rose 45% to $554.2 million, Teladoc said. Analysts polled by FactSet expected the company to report a loss of 57 cents a share on sales of $547 million. Teladoc guided for full-year 2022 sales of between $2.55 billion and $2.65 billion, representing 25% to 30% growth and, at the top of the range, in line with expectations. The telemedicine company said it saw "meaningful growth and penetration across several key areas of our business," including mental health and primary care. "Healthcare has a 'new normal,'" Teladoc said. "We are proud of the role Teladoc Health has played in leading this transformation and are equally excited about our role in 2022 and beyond as we continue to innovate." Shares of Teladoc ended the regular trading day up 0.5%.
-Claudia Assis
$(END)$ Dow Jones Newswires
February 22, 2022 17:23 ET (22:23 GMT)
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