Teladoc stock rises 7% as Q3 earnings, forecast top Street estimates

Shares of Teladoc Health (NYSE:TDOC) rose 7% in post-market trading Wednesday after the company issued a Q3 earnings report and revenue forecast that topped Street estimates.

For the third quarter, Teladoc (TDOC) reported a narrowed net loss of $0.19 per share on revenue of $640.5M. Analysts, on average, were expected a net loss of $0.28 per share on revenue of $631.9M.

Looking ahead, Teladoc (TDOC) said it expects Q4 revenue to grow by 0% to 2.5% year-over-year, with 2024 revenue increasing by a percentage in the low single digits to mid-single digits, according to a statement.

Analysts, on average, were expecting Teladoc’s (TDOC) 2024 revenue to decline by 1.86% from the prior year, with the company reporting revenue of $2.55B versus $2.6B for 2023.