Why Teladoc Health Stock Charged Sharply Higher This Week
Shares of Teladoc Health (NYSE: TDOC) charged sharply higher this week, surging as much as 27.8% according to data provided by S&P Global Market Intelligence. As of 2:43 p.m. ET Thursday, the stock was still up 18.7%.
The catalyst that sent the digital healthcare stock higher was financial results that far exceeded expectations.
For the third quarter, Teladoc Health generated revenue of $611 million, up 17% year over year. This resulted in a loss per share of $0.45. While a lack of profits in generally not a cause for celebration, Teladoc's results were far better than analysts' consensus estimates, which called for revenue of $609 million and a loss per share of $0.55.
Source Fool.com
