Teladoc Health Inc (NYSE: TDOC) shares are trading higher Thursday after the company reported better-than-expected financial results.
Teladoc said third-quarter revenue increased 17% year-over-year to $611.4 million, which beat average analyst estimates of $608.76 million, according to Benzinga Pro. The company reported a quarterly net loss of 45 cents per share, which beat average estimates for a loss of 55 cents per share.
"Teladoc Health delivered strong third quarter results, including robust revenue growth, and adjusted EBITDA above the high end of expectations," said Jason Gorevic, CEO of Teladoc.
Teladoc expects fourth-quarter revenue to be between $625 million and $640 million versus average analyst estimates of $637.25 million. The company expects a fourth-quarter net loss between 10 and 40 cents per share versus the estimate for a loss of 26 cents per share.
Teladoc sees full-year revenue between $2.395 billion and $2.41 billion versus average estimates of $2.4 billion. The company expects a full-year net loss between $61.10 and $61.40 per share versus estimates for a loss of $56.42 per share.
- Barclays (LON:BARC) analyst Steve Valiquette maintained Teladoc with an Equal-Weight rating and lowered the price target from $33 to $32.
- Citigroup (NYSE:C) analyst Daniel Grosslight maintained Teladoc with a Neutral rating and lowered the price target from $38 to $36.
TDOC Price Action: Teladoc has a 52-week high of $95.71 and a 52-week low of $23.08.
The stock was up 10.1% at $29.31 at time of publication.
Photo: courtesy of Teladoc.
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