Teladoc (NYSE:TDOC) earnings for the digital healthcare company’s second quarter of 2020 have TDOC stock down after-hours Wednesday. This comes after reporting diluted losses per share of 34 cents on revenue of $241.03 million. For comparison, Wall Street was expecting diluted per-share losses of 23 cents on revenue of $220.67 million.
Here’s what else is worth mentioning from the most recent Teladoc earnings report.
- Diluted losses per share are 17.1% better than the loss of 41 cents from the same time last year.
- Revenue for the quarter comes in 85% higher than the $130.28 million reported in the second quarter of 2019.
- Operating loss of $7.18 million is a 67.4% improvement year-over-year from an operating loss of $22.02 million.
- The Teladoc earnings report also includes a net loss of $25.68 million.
- That’s 12.4% narrower than the $29.32 million reported in the same period of the year prior.
Jason Gorevic, CEO of Teladoc, said this about the earnings results.
“While COVID-19 has accelerated the virtual care needs of consumers and providers alike, our broad based momentum in 2020 and beyond is rooted in the satisfaction and trust our partners have in our ability to transform the healthcare experience.”
Teladoc also provides an outlook for 2020 in the earnings report. It expects diluted per-share losses between $1.36 and $1.45 with revenue ranging from $980 million to $995 million. Wall Street’s estimates are for diluted losses per share of $1.13 on revenue of $844.17 million for the year.
TDOC stock was down after-hours on Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.