Why Teladoc Shares Are Plunging After Hours

Teladoc Health Inc TDOC shares are trading significantly lower in Wednesday's after-hours session after the company reported financial results.

Teladoc said first-quarter revenue increased 25% year-over-year to $565.4 million, which came in below the $568.8 million estimate. The company reported an earnings loss of $41.58 per share, which the company said was primarily driven by non-cash goodwill impairment charge of $6.6 billion ($41.11 per share).

Teladoc said it expects second-quarter revenue to be between $580 million and $600 million. The virtual healthcare company revised its full-year 2022 revenue expectations to a range of $2.4 billion to $2.5 billion versus the $2.58 billion estimate. Full-year adjusted EBITDA is expected to be between $240 million and $265 million.

TDOC 52-Week Range: $50.08 - $192.11

According to data from Benzinga Pro, the stock was down 37.5% in after hours at $34.81 at press time.

Photo: courtesy of Teladoc.