Teladoc (NYSE:TDOC) stock is getting a boost on Thursday following the release of its Q3 2021 earnings report.
Let’s take a dive into that earnings report below and see what has TDOC stock rising today!
- The earnings report starts with diluted losses per share of 53 cents.
- That’s a win for the company as it beats out Wall Street’s estimate of -65 cents per share.
- However, it’s also a wider loss than its diluted losses per share of 43 cents from the same time last year.
- Revenue for the quarter comes in at $521.66 million.
- That’s another boon to TDOC stock as analysts were looking for revenue of $516.6 million during the quarter.
- In addition to that, the company’s revenue was up 81% year-over-year from $288.81 million.
- The positive results have Teladoc boosting its revenue outlook for the full year of 2021.
- It’s now expecting revenue to range from $2.015 billion to $2.025 billion.
- That’s another positive for TDOC stock with Wall Street estimating revenue of $2.01 billion for the year.
Jason Gorevic, CEO of Teladoc, said the following in the Q3 earnings report sending TDOC stock higher.
“As we look ahead to the rest of 2021 and into 2022, we are confident in our ability to innovate, anticipate and solve for the evolving whole-person health needs of consumers and healthcare professionals globally.”
That positive earnings report brings with it heavy trading of TDOC stock. As of this writing, more than 7 million shares have changed hands. That’s quite the jump compared to its daily average trading volume of about 2.3 million shares.
TDOC stock was up 8% as of Thursday afternoon but is down 25.4% since the start of the year.
Investors searching for more stock market news are in the right place!
InvestorPlace has you covered with all the latest stock coverage for Thursday. A few examples worth looking into include what to know about Wolfspeed (NYSE:WOLF) stock soaring today, a deal pushing Digital Brands (NASDAQ:DBGI) stock higher, as well as what has Triterras (NASDAQ:TRIT) gaining. You can get all those details from the following links!
More Stock Market News for Thursday
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- TRIT Stock: The News That Has Fintech Play Triterras Soaring Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.