Teladoc Health Stock ( NYSE:TDOC )
In preparation for today’s presentation at the annual J.P. Morgan Healthcare Conference, shares of Teladoc Health ( NYSE:TDOC ) were trending higher after the telehealth provider upgraded its fourth-quarter outlook , raising the bottom end of its revenue range.
As of 11:33 a.m. Eastern Time, the price of a Teladoc Health stock has increased by 6.8%.
Then What?
Teladoc said in a filing that it anticipates its revenue for the year 2022 to fall somewhere between $2.403 billion and $2.41 billion, which is a change from its previous guidance of $2.395 billion to $2.4 billion. It increased the bottom end of its projection range for the fourth quarter from $625 million to $633 million, bringing the total to $633 million.
It is anticipated that more than one billion dollars of that revenue would come from the company’s BetterHelp mental health product, rapidly becoming its primary growth engine.
In terms of the bottom line, the company did not change its prediction for adjusted EBITDA, which was between $240 million and $250 million.
What’s Next?
Investors were convinced by the employment data released on Friday that the economy may have a “soft landing” and escape experiencing a significant recession. Today’s gains for Teladoc come as other tech companies are also increasing due to this report.
There is potential for a recovery in the price of Teladoc Health stock since it had a significant decline in the previous year. The fact that revenue in the fourth quarter was more than anticipated is a positive...
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