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© Reuters. Teladoc (TDOC) beats FQ4 earnings expectations however steering falls brief; shares slide
Shares of Teladoc Well being (NYSE:) fell over 11% following the closing bell on Tuesday after the corporate’s FQ4 income and FQ1 2024 steering fell in need of expectations.
The healthcare agency reported a loss per share of $0.17 for the quarter, in comparison with a loss per share of $0.22 anticipated by analysts. Nonetheless, income got here in at $660.53 million, lacking the consensus estimate of $670.79 million.
For the total 12 months of 2023, Teladoc’s working money circulate elevated to $350.0 million, up from $189.3 million within the earlier 12 months. Its free money circulate additionally noticed a considerable rise, reaching $193.7 million, up from simply $16.5 million.
As of December 31, 2023, the corporate’s money reserves stood at $1,123.7 million, the quarterly report confirmed.
Looking forward to the primary quarter of 2024, TDOC stated it expects an EPS loss between $0.55 and $0.45, worse than the consensus projection of a $0.43 loss. Income is projected to be within the vary of $630 to $645 million, additionally in need of the projected $672.9 million.
For the total 12 months of 2024, the corporate expects an EPS loss between $1.10 and $0.80, beating the expectations of $1.23. TDOC expects income to be between $2.635 billion and $2.735 billion for the 12 months, barely under the anticipated $2.77 billion by analysts.
“With roughly 90 million members and hundreds of purchasers around the globe, Teladoc Well being continues to be the chief in entire particular person digital care,” stated Jason Gorevic, CEO of Teladoc Well being.
“As we have a look at 2024 and past, we’re excited for the long run. We stay centered on serving our purchasers globally, delivering world-class well being care whereas on the similar time, increasing our backside line by a mix of working leverage and expense discount.”
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