Microsoft Is Sending Teladoc Stock Higher Tuesday: What's Going On?

Teladoc Health Inc TDOC shares are trading higher Tuesday after the company announced it's expanding its collaboration in AI with Microsoft Corp MSFT to address the healthcare workforce crisis.

What To Know: Teladoc said it will work to integrate Microsoft Azure OpenAI Service, Azure Cognitive Services and the Nuance Dragon Ambient eXperience into the Teladoc Health Solo platform.

The solutions will automate the clinical documentation process during virtual exams and improve the overall quality of shared medical information. The Teladoc Health Medical Group also plans to use Nuance DAX Express for care visits provided directly by Teladoc Health.

"We are focused on using AI to reassert and build the doctor-patient relationship at a time when technology frequently does the opposite. We are proud to partner with Microsoft and Nuance to break new ground," said Vidya Raman-Tangella, chief medical officer of Teladoc Health.

Teladoc is set to report second-quarter financial results after the market close on July 25. The company is expected to report a loss of 41 cents per share on quarterly revenue of $649.19 million. According to Benzinga Pro, Teladoc has beat expectations for four straight quarters. 

See Also: Bank of America Clocks 19% Q2 Net Income Growth: Performance By The Numbers

TDOC Price Action: Teladoc shares were up 5.97% at $26.45 at time of publication, according to Benzinga Pro.

Photo: courtesy of Teladoc.