Teladoc falls 16% after withdrawing 2024 guidance, long-term outlook
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Contributor since / Followers
Contributor since / Followers
2 months ago
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- Teladoc Health (NYSE:TDOC) after Wednesday’s closing bell said it was withdrawing its 2024 financial guidance, as well as its three-year business outlook, sending shares down ~16%.
- The telehealth provider also released its Q2 financial results, which missed on the top line but beat on the top.
- Teladoc was hurt in the quarter by a $790M goodwill impairment charge related to estimate changes in future cash flows from its BetterHelp mental health segment. The company net loss in the quarter was $837.7M.
- For 2024, Teladoc sees revenue growth in the low single digits to mid-single digits compared to 2023.
- Year to date, shares are down ~55%.