Teladoc Health Inc (NYSE:TDOC) shares are trading lower Wednesday following mixed quarterly results from the telehealth company. Here’s a look at the key metrics from the quarter.
- Q3 Revenue: $660.24 million missed estimates of $664.11 million
- Q3 EPS: 35 cent loss beat estimates for 37 cent loss
Access fees revenue increased 8% year-over-year, while other revenue grew 10%. U.S. revenue was up 7% and International revenue jumped 17%. Teladoc’s Integrated Care segment saw revenue climb 9%. The BetterHelp segment was up 8% year-over-year. Total visits decreased 4% to 4.4 million versus 4.6 million in the prior year.
“As we look into 2024, we will continue to advance virtual care in ways large and small … We will accelerate our efforts to drive value through improved business performance across the enterprise, undertaking a comprehensive operational review of the business to further improve our efficiency,” said Jason Gorevic, CEO of Teladoc Health.
Guidance: Teladoc expects fourth-quarter revenue to be between $658 million and $683 million versus estimates of $686.56 million. Full-year revenue is expected to be between $2.6 billion and $2.625 billion versus estimates of $2.63 billion.
Teladoc anticipates a net loss of 23 to 33 cents per share in the fourth quarter and a full-year net loss of $1.40 to $1.50 per share.
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TDOC Price Action: Teladoc shares were down 6.18% at $17.01 at the time of writing, according to Benzinga Pro.
Photo: courtesy of Teladoc.
