Teladoc Health Inc (NYSE: TDOC) shares are trading lower in Tuesday’s after-hours session after the company reported fourth-quarter results and issued weak guidance.
What Happened: Teladoc said fourth-quarter revenue increased 15% year-over-year to $637.71 million, which beat average analyst estimates of $633.65 million, according to Benzinga Pro. The company reported quarterly earnings of $23.49 per share due to non-cash goodwill impairment charges of $23.26 per share.
Excluding the impairment charge, Teladoc’s net loss came in at 23 cents per share versus consensus estimates for a loss of 25 cents per share.
“Despite a challenging macro environment, we were able to expand our product offerings and enhance the level of care delivered across our integrated whole-person platform,” said Jason Gorevic, CEO of Teladoc Health.
“As we look ahead to 2023, we see a healthy demand for solutions that promise better access and outcomes while lowering the cost of healthcare.”
Teladoc sees first-quarter revenue in a range of $610 million to $625 million versus the $648.72 million estimate. The company anticipates a quarterly net loss of 45 cents to 55 cents per share versus an estimated loss of 43 cents.
Full-year 2023 revenue is expected to be between $2.55 billion and $2.675 billion. Teladoc expects a full-year net loss of $1.25 to $1.75 per share.
TDOC Price Action: Teladoc shares are down 9.51% after hours at $26.64 at the time of publication, according to Benzinga Pro.
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This article After-Hours Alert: Why Teladoc Stock Is Diving originally appeared on Benzinga.com
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Source: https://finance.yahoo.com/news/hours-alert-why-teladoc-stock-232438302.html