<p>Teladoc (NYSE: TDOC) earnings for the first quarter of 2020 have TDOC stocks falling lower on Wednesday afternoon. That’s because of its diluted 40-cent share loss, which Wall Street lacks an estimate of 36 cents. But the virtual healthcare company’s revenue of $ 180.8 million is better than analysts’ estimates of $ 178.24 million.
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Let’s take a closer look at the latest Teladoc performance report below.
Diluted losses per share are 7% better than the 43 cents from the same time last year. Revenue increased by 41% compared to $ 128.57 billion in the first quarter of 2019. Operating profit of 21.01 million is an improvement of 8.3% compared to the previous year from $ 22.89 million. The Teladoc earnings report also has a net loss of $ 29.6 million. This is a 1.8% smaller net loss than the $ 30.15 million reported during the same period last year.
Jason Gorevic, CEO of Teladoc, said this in the earnings report:
“In the first quarter of 2020 alone, Teladoc Health delivered two million medical visits to people around the world, while increasing access to millions of new members. As our customers and consumers have turned to us during these unsurpassed times, our proven ability to meet their needs has increased our global leadership role and accelerated our impact on the healthcare system as a whole. ”
Teladoc includes a forecast for 2020 in the earnings report for the first quarter. It expects adjusted earnings per share of $ 1.27 to $ 1.13 on revenue of $ 800 to $ 825 million. Wall Street estimates adjusted earnings per share at $ 1.11 on revenue of $ 743.62 million.
The TDOC share fell slightly after Wednesday.
At the time of writing, William White had no position in any of the above securities.
Article printed from InvestorPlace Media, https://investorplace.com/2020/04/teladoc-earnings-dip-tdoc-stock/.
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