Why Shares of Teladoc Are Up Wednesday
Shares of Teladoc (NYSE: TDOC) were up more than 22% as of 11:25 a.m. on Wednesday after the company announced second-quarter earnings. The virtual healthcare provider's stock is up more than 18% so far this year.
Teladoc's second-quarter revenue rose 10% year over year to $652.4 million, but perhaps more importantly, it significantly cut its losses. On the bottom line, the company reported a loss of $0.41 per share compared to a loss of $19.22 per share in the same period a year ago. Notably, its steep loss in Q2 2022 included a non-cash goodwill impairment charge of $3.03 billion.
Several areas helped push revenue higher. The company made 12% more year over year from access fee revenue, and international revenue was up 23%.
Source Fool.com
