Shares of Teladoc (NYSE:TDOC) gained in after-hours trading after the company reported earnings for its first quarter of Fiscal Year 2023. Earnings per share came in at -$0.42, which beat analysts’ consensus estimate of -$0.50 per share. Sales increased by 11.3% year-over-year, with revenue hitting $629.24 million. This beat analysts’ expectations of $640.24 million.
Management offered some projections for both the second quarter and the full year. Second-quarter revenue is expected between $635 million and $660 million, well within consensus projections of $642.72 million. However, EPS is expected to be between -$0.45 and -$0.55 per share, well below the consensus expectation of -$0.37.
For the 2023 full year, revenue is projected between $2.575 billion and $2.675 billion, well within the $2.61 billion projected. Meanwhile, EPS is expected to be between -$1.25 and -$1.70 per share, which is within consensus projections calling for -$1.31 per share.
Overall, Wall Street has a consensus price target of $29.53 on Teladoc, implying 14.37% upside potential, as indicated by the graphic above.
