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Why Shares of Teladoc Are Up Wednesday

TheMotleyFool

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Why Shares of Teladoc Are Up WednesdayPhoto, wide shot, wide-angle lens, Biotech company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://img.theapi.app/temp/80e18bfd-1ff8-4487-af62-1cdb7de1ceb6.png

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

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