Teladoc's stock tumbles after-hours after company misses sales estimates and offers soft guidance

Teladoc Health Inc.'s stock (TDOC) tumbled 5.8% in after-hours trading Tuesday, after the virtual care company posted a narrower-than-expected loss for the third quarter but revenue that fell short of estimates. Purchase, N.Y.-based Teladoc posted a net loss of $57.1 million, or 35 cents a share, for the quarter, narrower than the loss of $73.5 million, or 45 cents a share, posted in the year-earlier period. Revenue rose 8% to $660.2 million from $611.4 million a year ago. The FactSet consensus was for a loss of 37 cents and revenue of $664.0 million. The company offered guidance for the full year that also lagged consensus. It said it now expects a fourth-quarter loss of 33 cents to 23 cents a share and revenue of $658 million to $683 million. The FactSet consensus is for fourth-quarter loss of 18 cents a share and revenue of $687.0 million. The stock has fallen 23% in the year to date, while the S&P 500 has gained 10.6%.

-Ciara Linnane

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10-24-23 1614ET

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