TDOC stock ran higher in after-hours trading on February 26, 2020. The company did report earnings and revenue and the numbers were good but I think the coronavirus is driving the stock higher.
The idea is that in a quarantine, like the kind China did in Wuhan, hospitals are mostly closed to the public as they are sources of virus transmission. It is much safer for everyone if patients can see their doctor using teleconferencing technology. Patients and doctors are much better protected and can stay quarantined at home.
Teladoc Health (TDOC) is transforming how people access and experience healthcare, with a focus on high quality, lower costs, and improved outcomes around the world. The company’s award-winning, integrated clinical solutions are inclusive of telehealth, expert medical services, AI and analytics, and licensable platform services. With more than 2,400 employees, the organization delivers care in more than 175 countries and in more than 40 languages, partnering with employers, hospitals and health systems, and insurers to transform care delivery.
Teladoc Health, Inc. (NYSE: TDOC), the global leader in virtual care, today reported financial results for the fourth quarter and full year ending December 31, 2019. Teladoc reports Q4 EPS of (26c) versus the consensus estimate of (33c). The company reports Q4 revenue of $156.5M versus the consensus estimate of $152.95M.
Year-over-year Q4 revenue grows 27% to $156.5 million and total visits increase 44% to 1.2 million
Year-over-year full year revenue grows 32% to $553.3 million and total visits increase 57% to 4.1 million
“We demonstrated outstanding performance in the fourth quarter and full year of 2019 as we reported record results that were at the high end or exceeded our expectations on all key metrics. Our diversified growth strategies are driving strong growth across our channels,” said Jason Gorevic, chief executive officer. “Looking forward, we are well positioned with significant momentum to extend our leadership position and to meet the increasing demand for our comprehensive service offering.”