Digital medical services platform Teladoc Health (NYSE:TDOC) will be announcing earnings results tomorrow after the bell. Here's what you need to know.
Last quarter Teladoc reported revenues of $660.5 million, up 3.6% year on year, missing analyst expectations by 1.6%. It was a weak quarter for the company, with full-year revenue guidance missing analysts' expectations and underwhelming revenue guidance for the next quarter. The company reported 89.6 million users, up 7.6% year on year.
Is Teladoc buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Teladoc's revenue to grow 1.3% year on year to $637.4 million, slowing down from the 11.3% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.44 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates three times over the last two years.
Looking at Teladoc's peers in the consumer internet segment, only Netflix has so far reported results, delivering top-line growth of 14.8% year on year, and beating analyst estimates by 1%. The stock was down 3.4% on the results.
Read our full analysis of Netflix's earnings results here.Inflation progressed towards the Fed's 2% goal at the end of 2023, leading to strong stock market performance. The start of 2024 has been a bumpier ride, as the market switches between optimism and pessimism around rate cuts due to mixed inflation data, and while some of the consumer internet stocks have fared somewhat better, they have not been spared, with share price declining 4% over the last month. Teladoc is down 8.7% during the same time, and is heading into the earnings with analyst price target of $19.5, compared to share price of $13.74.
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