Teladoc tops Q3 views, but calls for steeper loss in the next quarter

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Shares of Teladoc Health Inc. fell more than 8% in the extended session Wednesday after the telemedicine company narrowed its quarterly loss and reported sales above expectations but called for steeper losses in the next quarter. Teladoc said it lost $26 million, or 43 cents a share, in the third quarter, compared with a loss of $20 million, or 28 cents a share, in the year-ago quarter. Adjusted for one-time items, such as transaction costs related to a pending merger with Livongo and the acquisition of InTouch Health, Teladoc lost $11 million, or 13 cents a share, in the quarter. Sales rose to $289 million from $138 million a year ago. Analysts polled by FactSet had expected Teladoc to report an adjusted loss of 30 cents a share on sales of $282 million. “Our strong third-quarter results exceeded expectations, driven by broad-based strength across the business and building on the momentum we saw in the first half of the year,” Chief Executive Jason Gorevic said in a statement. Teladoc guided for fourth-quarter revenue between $294 million and $304 million, above analyst expectations around $288 million. It guided for a fourth-quarter adjusted per-share loss between 36 cents and 33 cents, however, compared with FactSet consensus around an adjusted per-share loss of 31 cents for the quarter. Teladoc ended the regular trading day up 1.7%.
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