Teladoc Health Shares Are Seeing Increased Investor Interest Today: Here's Why - Teladoc Health (NYSE:TDOC)

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Teladoc Health Inc TDOC shares are moving higher Wednesday after the company reported better-than-expected financial results. What Happened: Teladoc said second-quarter revenue increased 10% year-over-year to $652.4 million, which beat the consensus estimate of $649.19 million, according to Benzinga Pro. The company reported a quarterly loss of 40 cents per share, which beat analyst estimates for a loss of 41 cents per share. Adjusted gross margin came in at 70.8%, up from 69.2% year-over-year. Adjusted EBITDA was up 54% year-over-year. Access fees revenue grew 11% to $575.7 million, and other revenue grew 4% to $76.7 million. U.S. revenue grew 8% to $561.8 million, and International revenue grew 28% to $90.6 million. Cash flow from operations totaled $101.2 million. Free cash flow came in at $64.6 million. "This performance is a direct result of introducing and expanding new products and services, investing in a robust innovation pipeline, controlling expenses, and vertically integrating care to capitalize on customer demand for unified virtual and in-person healthcare experiences," said Jason Gorevic, CEO of Teladoc. See Also: AT&T Q2 Earnings: Revenue and EPS Beat, Margin Growth, Confidence in FY23 Outlook and More Outlook: Teladoc sees third-quarter revenue in the range of $650 million to $675 million versus estimates of $663.11 million. The company anticipates a third-quarter loss of 40 to 50 cents per share versus estimates for a loss of 33 cents per share. Teladoc expects full-year 2023 revenue to be between $2.6 billion and $2.675 billion versus estimates of $2.63 billion. The company sees a full-year earnings loss of $1.25 to $1.60 per share versus estimates for a loss of $1.34 per share. TDOC Price Action: Teladoc shares were up 7.46% at $24.48 at the time of writing, according to Benzinga Pro. Photo: courtesy of Teladoc.