What happened

This earnings season isn't shaping up to be a merry one for coronavirus stock Teladoc Health (NYSE:TDOC) following the release of its latest earnings after the market close Tuesday. In early after-hours trading, the stock was down by nearly 8%.

So what

For its second quarter, Teladoc managed to grow its top line by 109% to $503 million, fueled by 138% growth in the company's access fees (which accounted for 86% of total revenue). However, the company's headline net loss deepened to nearly $134 million, or $0.86 per share, from the second-quarter 2020 loss of almost $26 million. More than a little of this was due to expenses related to the large-scale acquisition of healthcare sector peer Livongo Health.

Man using telehealth services.

Image source: Getty Images.

On average, analysts tracking the stock anticipated nearly $501 million in revenue, according to Streetinsider.com. The financial news site said that the collective estimate for net loss was $0.56, although it cautioned that this "may not compare" to the actual result (likely due to those Livongo acquisition costs).

Putting a heavily positive spin on its results, CEO Jason Gorevic said that the quarter was "marked by exciting new client wins, product launches, and tremendous progress on our quest to be the category-defining provider of whole-person virtual care."

Now what

Teladoc updated its guidance, and that might be the rub. For the full year, it believes revenue will come in at or slightly over $2 billion, with a per-share net loss of $3.35 to $3.60. The revenue figure is roughly in line with analyst projections, but these prognosticators were anticipating a per-share deficit of only $2.75.

 
This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.