Digital medical services platform Teladoc Health (NYSE:TDOC) will be reporting earnings tomorrow after the bell. Here's what to expect.
Last quarter Teladoc reported revenues of $652.4 million, up 10.1% year on year, in line with analyst expectations. It was a mixed quarter for the company, with a slight beat on revenue and more convincingly for adjusted EBITDA. Another major positive was that the company raised full year guidance for revenue, adjusted EBITDA, and EPS. On the other hand, its decelerating revenue growth wasn't great and next quarter's revenue guidance came in slightly below Wall Street's expectations. The company reported 85.9 million users, up 6.58% 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 8.45% year on year to $663.1 million, slowing down from the 17.2% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.37 per share.
The analysts covering the company have been growing increasingly bearish about the business heading into the earnings, with revenue estimates seeing four downward revisions over the last thirty days. The company only missed Wall St's revenue estimates once over the last two years, and has on average exceeded top line expectations by 0.75%.
Looking at Teladoc's peers in the consumer internet segment, only Netflix has so far reported results, delivering top-line growth of 7.77% year on year, and beating analyst estimates by 0.02%. The stock traded up 16% on the results.
Read our full analysis of Netflix's earnings results here.Tech stocks have had a rocky start since 2022, and while some of the consumer internet stocks have fared somewhat better, they have not been spared, with share price declining 5.23% over the last month. Teladoc is down 4.04% during the same time, and is heading into the earnings with an analyst price target of $28.5, compared to share price of $18.3.
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The author has no position in any of the stocks mentioned.