© Reuters. Teladoc (TDOC) beats FQ4 earnings expectations but guidance falls short; shares slide
Shares of Teladoc Health (NYSE:) fell over 11% following the closing bell on Tuesday after the company’s FQ4 revenue and FQ1 2024 guidance fell short of expectations.
The healthcare firm reported a loss per share of $0.17 for the quarter, compared to a loss per share of $0.22 expected by analysts. However, revenue came in at $660.53 million, missing the consensus estimate of $670.79 million.
For the full year of 2023, Teladoc’s operating cash flow increased to $350.0 million, up from $189.3 million in the previous year. Its free cash flow also saw a substantial rise, reaching $193.7 million, up from just $16.5 million.
As of December 31, 2023, the company’s cash reserves stood at $1,123.7 million, the quarterly report showed.
Looking ahead to the first quarter of 2024, TDOC said it expects an EPS loss between $0.55 and $0.45, worse than the consensus projection of a $0.43 loss. Revenue is projected to be in the range of $630 to $645 million, also short of the projected $672.9 million.
For the full year of 2024, the company expects an EPS loss between $1.10 and $0.80, beating the expectations of $1.23. TDOC expects revenue to be between $2.635 billion and $2.735 billion for the year, slightly below the expected $2.77 billion by analysts.
“With approximately 90 million members and thousands of clients around the world, Teladoc Health continues to be the leader in whole person virtual care,” said Jason Gorevic, CEO of Teladoc Health.
“As we look at 2024 and beyond, we are excited for the future. We remain focused on serving our clients globally, delivering world-class health care while at the same time, expanding our bottom line through a combination of operating leverage and expense reduction.”
This story originally appeared on Investing
