Digital medical services platform Teladoc Health (NYSE: TDOC) will be reporting results this Wednesday afternoon. Here’s what investors should know.
Teladoc missed analysts’ revenue expectations last quarter, reporting revenues of $606.9 million, down 4% year on year. It was a softer quarter for the company, with revenue guidance for next quarter missing analysts’ expectations.
Is Teladoc a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Teladoc’s revenue to decline 6.1% year on year, a further deceleration from the 2.2% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Teladoc has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Teladoc’s peers in the consumer internet segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Meta delivered year-on-year revenue growth of 26.1%, beating analysts’ expectations by 2%, and Netflix reported revenues up 11.8%, in line with consensus estimates. Meta traded down 7% following the results while Netflix was also down 5.3%.
Read our full analysis of Meta’s results here and Netflix’s results here.
There has been positive sentiment among investors in the consumer internet segment, with share prices up 6.1% on average over the last month. Teladoc is up 6.1% during the same time and is heading into earnings with an average analyst price target of $7.47 (compared to the current share price of $6.25).
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