Teladoc Health Stock Drops 24% on Guidance Miss

Teladoc Health Stock Drops 24% on Guidance Miss Feb. 21, 2024, 10:35 a.m., readers: 12

Shares of Teladoc Health (NYSE:TDOC) fell over 24% intra-day today as the company's fiscal Q4 revenue and Q1 2024 guidance disappointed investors. Despite reporting a smaller loss per share than expected at $0.17, the company's revenue of $660.53 million fell short of the Street's estimate of $670.79 million. For the full year of 2023, Teladoc reported a significant increase in operating cash flow to $350.0 million and a substantial rise in free cash flow to $193.7 million. Looking forward, the company's FQ1 2024 EPS loss projection between $0.55 and $0.45 is worse than expected, with revenue also forecasted to miss the mark. For the full year 2024, the company anticipates an EPS loss in the range of $1.10-$0.80, compared to the Street expectations of $1.23, and revenues of $2.635-$2.735 billion, below the expected $2.77 billion.