Teladoc (TDOC) Stock Plummets on Q2 Loss, Weak Guidance

  • Teladoc (TDOC) stock is falling alongside the release of its Q2 earnings report.
  • The company reported wider earnings per share losses than expected.
  • It also put out a weak guidance for Q3 and full-year 2022.
TDOC Stock - Teladoc (TDOC) Stock Plummets on Q2 Loss, Weak Guidance

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Teladoc (NYSE:TDOC) stock is falling hard on Thursday after the company released its earnings report for the second quarter of 2022.

Teladoc starts off its earnings report with earnings per share of -$19.22. That’s nowhere close to Wall Street’s estimate of -58 cents per share. It’s also a much wider loss than the -86 cents per share reported in the same period of the year prior. It’s worth noting that TDOC saw a non-cash goodwill impairment charge of $18.78 per share during the quarter.

One bright spot for TDOC stock is the company’s revenue of $592.4 million. That’s better than the $587.09 million that analysts were expecting. It also represents an 18% increase over the $503.1 million reported during the same time last year.

Weak Guidance Drags TDOC Stock Down

Unfortunately for TDOC stock, the company’s new guidance isn’t what investors were hoping for. This has it expecting EPS between -85 cents and -60 cents alongside revenue of $600 million to $620 million for Q3. Wall Street is estimating EPS of -55 cents on revenue of $613.8 million for the quarter.

The earnings report also contains an outlook for the full year of 2022. That includes EPS of -$62 to -$61 and revenue ranging from $2.4 billion to $2.5 billion. For comparison, Wall Street is looking for EPS of -$42.89 and revenue of $2.43 billion for the year.

TDOC stock is seeing heavy trading on today’s earnings news. This has some 12 million shares on the move as of this writing. That’s above its daily average trading volume of about 7.2 million shares.

TDOC stock is down 23.3% as of Thursday morning.

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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.


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