Why Is Teladoc Health (TDOC) Stock Falling After Hours?

Teladoc Health Inc TDOC shares are trading lower in Wednesday’s after-hours session after the company reported financial results and maintained guidance.

Teladoc said second-quarter revenue jumped 18% year-over-year to $592.37 million, which beat the estimate of $583.76 million, according to data from Benzinga Pro. The company reported a quarterly earnings loss of $(19.22) per share, which was down from a loss of 86 cents per share in the prior year quarter. Earnings results included a non-cash goodwill impairment charge of $18.78 per share.

“While we continue to see increased uncertainty in the macroeconomic backdrop, we remain confident in our ability to execute against our strategy,” said Jason Gorevic, CEO of Teladoc.

Teladoc maintained its previously issued revenue and adjusted EBITDA outlook for the full year. Full-year revenue is expected to be between $2.4 billion and $2.5 billion. Adjusted EBITDA is expected to be between $240 million and $265 million. However, based on current trends in the market, Teladoc said it now expects results to be toward the lower end of said ranges.

Teladoc is a virtual health provider that uses proprietary health signals and personalized interactions to drive better outcomes.

TDOC Price Action: Teladoc has traded between $95.71 and $27.38 over a 52-week period.

The stock was down 13.1% in after-hours at $37.29 at press time.

Photo: courtesy of Teladoc.

Image and article originally from www.benzinga.com. Read the original article here.