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Teladoc Well being
inventory’s newest post-earnings decline—it sank in prolonged buying and selling Wednesday despite the fact that the agency’s third-quarter outcomes beat expectations—is nothing new for the digital well being inventory.
Teladoc (ticker: TDOC) reported a third-quarter internet lack of $84.3 million, or 53 cents a share. Income jumped 81% 12 months over 12 months to $522 million. Wall Avenue’s consensus estimates known as for a internet lack of 67 cents a share and income of $516.63 million, in keeping with FactSet.
Adjusted earnings earlier than curiosity, taxes, depreciation, and amortization hit $67.4 million, forward of expectations at $65.3 million, in keeping with FactSet.
Nonetheless, the inventory sank 5.1% to $131.50 in after-hours buying and selling, mirroring its strikes after the agency’s prior three earnings reviews. The inventory fell practically 13% following its fourth-quarter 2020 report and eight% after its first-quarter 2021 report. On the optimistic aspect, an preliminary steep drop on the day following Teladoc’s second-quarter report in July reversed itself, and the inventory closed 0.5% larger.
The inventory is down about 30% in 2021 following a 138.8% surge in 2020. Although the pandemic supplied explosive progress for the agency, it additionally created a excessive bar to clear in 2021.
Teladoc reported 52.5 million U.S. paid memberships, up 2% 12 months over 12 months and in keeping with Wall Avenue’s consensus estimates. Whole visits elevated 37% 12 months over 12 months to three.9 million, exceeding analysts’ estimates of three.5 million.
For the fourth quarter, the corporate expects income between $536 million and $546 million, in contrast with the consensus name of $540 million amongst analysts tracked by FactSet. Teladoc expects whole U.S. paid memberships to be between 52.5 million and 53.5 million, with between 3.9 million and 4.1 million whole visits.
Write to Connor Smith at [email protected]