Teladoc (NYSE:TDOC) shares jumped more than 7% in pre-market today following the company’s announced Q2 results and an improved full-year outlook.
In its second-quarter results, Teladoc reported a 10% rise in revenue, reaching $652.4 million, which exceeded the Street estimate of $649.2 million. The reported loss per share for the quarter was $0.40, in line with the Street forecast of a loss per share of $0.41.
The company attributes this positive performance to several factors, including the introduction and expansion of new products and services, investments in innovation, expense control, and the integration of virtual and in-person healthcare experiences, which align with customer demand.
The updated full-year forecast now projects revenue to be $2.64 billion. This is slightly higher than the previous forecast and guidance of $2.63 billion. Additionally, Teladoc has revised its projected loss per share for the year to be in the range of $1.25 to $1.60, which is an improvement compared to the earlier forecast of $1.25 to $1.70 loss per share.
For Q3, Teladoc anticipates a loss per share of $0.45 on revenue of $662.5 million. This projection is slightly below the Street estimate for a loss per share of $0.33 on revenue of $664 million.