Why Is Teladoc Health (TDOC) Stock Down 21% Today?


  • Teladoc Health (TDOC) stock is falling on Wednesday with its latest earnings report.
  • The company missed revenue estimates for Q4 2023.
  • Teladoc also provided a weak outlook for 2024.
TDOC Stock - Why Is Teladoc Health (TDOC) Stock Down 21% Today?

Source: Piotr Swat / Shutterstock.com

Teladoc Health (NYSE:TDOC) stock is dropping on Wednesday after the virtual healthcare services company released its earnings report for the fourth quarter of 2023.

The reason for this drop is Teladoc Health reporting revenue of $660.53 million in its earnings report. That’s below the $671.09 million that Wall Street was expecting for the quarter, even if it is a 4% increase year-over-year (YOY) from $637.71 million.

The company’s diluted EPS for the quarter came in at -17 cents, however. That’s better than the -24 cents per share that Wall Street was expecting. It’s also an improvement over the -$23.49 per share reported in the same period of the year prior.

Guidance Drags TDOC Stock Down

Not helping TDOC stock is its guidance for Q1 2024. The company expects diluted EPS to range from -55 cents to -45 cents alongside revenue between $630 million and $645 million. To put those in perspective, Wall Street is expecting diluted EPS of -43 cents alongside revenue of $670.05 million during the quarter.

Teladoc Health’s outlook for fiscal 2024 has diluted EPS ranging from -$1.10 to -80 cents with revenue between $2.635 billion and $2.735 billion. Analysts are expecting diluted EPS of -$1.23 and revenue of $2.77 billion for the year.

TDOC stock is down 21.4% as of Wednesday morning.

Investors looking for all of the hottest stock market stories will want to stick around!

We’re offering coverage of the latest stock market news traders need to know about on Wednesday! That includes what’s going on with shares of Palo Alto Networks (NASDAQ:PANW) stock, CN Energy (NASDAQ:CNEY) and Greenbrook TMS (NASDAQ:GBNH) stock today. You can find out more on these matters down below!

More Stock Market News for Wednesday

On the date of publication, William White did not hold (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.

Article printed from InvestorPlace Media, https://investorplace.com/2024/02/why-is-teladoc-health-tdoc-stock-down-21-today/.

©2024 InvestorPlace Media, LLC