Teladoc Health Inc. Shares Tumble on Gloomy Forecast Amid Virtual Healthcare Market
(Source – Capital.com) Teladoc Health Shares , renowned for its BetterHelp therapy platform, took a nosedive in after-hours trading on Tuesday following the release of its largely pessimistic forecast for the upcoming months. The telehealth provider warned investors that the virtual healthcare services market is becoming oversaturated, sparking concerns among analysts and shareholders alike. In its earnings report, Teladoc (TDOC) projected first-quarter sales between $630 million and $645 million, falling short of FactSet analyst estimates of $673 million. Additionally, the company anticipates a loss of 45 to 55 cents per share during the period, worse than the expected loss of 41 cents per share. CEO Acknowledges Market Saturation, Signals Shift in Growth Expectations For the full year, Teladoc Health Shares forecasted sales ranging from $2.64 billion to $2.74 billion, below analyst projections of $2.77 billion. The per-share loss for the year is predicted to be between 80 cents...