Teladoc Health Boosts Its Q1 Revenue Outlook Due to Surging Demand

Teladoc Health (NYSE: TDOC) boosted its fiscal 2020 first-quarter revenue outlook on Tuesday to between $180 million and $181 million, up from its previous guidance for revenue between $169 million and $172 million. The company stated that the increase was based on "an unprecedented surge in demand" for its telehealth services due to the COVID-19 pandemic.

The number of virtual medical visits per day that Teladoc Health facilitates in the U.S. has more than doubled to above 20,000 since the first week of March. Teladoc said that more than 60% of those recent visits were from members who are new to its platform. Many Americans are under shelter-in-place orders and are turning to telehealth to seek medical care rather than visiting healthcare professionals in their offices or in hospitals, where they would be at higher risk of contracting COVID-19.

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Source Fool.com