Teladoc Health Soars After Reporting Strong Q4 Results
Virtual healthcare provider Teladoc Health (NYSE: TDOC) reported fourth-quarter earnings that beat expectations and gave strong guidance for the year ahead, propelling the stock up 15% in after-hours trading Wednesday. Revenue grew 27% to $156 million, above the top end of guidance the company issued three months ago and above the $153 million analysts were expecting. The company lost $0.26 per share, compared with Wall Street expectations for a loss of $0.33.
Teladoc gets most of its revenue from recurring subscription-access fees, and that revenue grew 24% to $127 million. Revenue from visit fees grew even faster, up 47% to $29.5 million, reflecting the fact that established users make more visits over time as they grow more comfortable with the service. Total visits grew 44% to 1.24 million, above guidance of 1.0 million to 1.2 million.
Teladoc added 1.7 million paid members in the U.S. in Q4 for a total of 36.7 million, a 5% increase since Q3 and 61% above the membership total a year ago.
Source Fool.com
