Teladoc Health, the leading telemedicine provider, has announced its latest quarterly results and current outlook, causing its shares to rise by 8.8% in aftermarket trading. The stock, which experienced a slight decline of 2.5% during regular trading hours, has seen a year-to-date decrease of 3.7%.
During the second quarter, Teladoc Health displayed significant progress by narrowing its loss and achieving revenue growth. Revenue increased to $652.4 million, a notable improvement from $592.4 million in the previous quarter.
Looking ahead to the third quarter, Teladoc Health forecasts revenue to range between $650 million and $675 million. The company also predicts a loss per-share between 40 cents and 50 cents. These figures differ slightly from analyst expectations, with FactSet anticipating $663.1 million in revenue and a loss of 33 cents per share.
In terms of its long-term projections, Teladoc Health has provided guidance for the year ending December 31, 2023. The company expects revenue to range between $2.6 billion and $2.68 billion, accompanied by a loss per-share between $1.25 and $1.60. This prediction aligns closely with its previous forecast, which anticipated revenue between $2.58 billion and $2.68 billion, alongside a loss ranging from $1.25 to $1.70 per share.
Teladoc Health continues to demonstrate its position as a leader in the telemedicine industry, showcasing positive growth and an optimistic outlook for the future.
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