RTTNews | Jul 28, 2021 10:15AM EDT

10:15 Wednesday, July 28, 2021 (RTTNews.com) - Teladoc Health, Inc. (TDOC) shares are sliding on Wednesday morning trade after the company reported a wider net loss for the second quarter, that missed analysts estimates. Third-quarter earnings guidance also comes in below analysts view.

The company posted quarterly net loss of $133.82 million, wider than net loss of $25.68 million in the prior year. On a per-share basis, loss was $0.86, compared to $0.34 last year.

Wall Street analysts expected loss of $0.56 per share on revenue of $500.07 million.

Net sales for the quarter increased to $503.14 million from $241.03 million in the prior year.

Looking ahead, the company projects third-quarter net loss of $0.78-$0.68 per share. Analysts expect loss of $0.50 per share on revenue of $514 million.

For the full year, the company expects total revenue in a range of $2.00 billion to $2.025 billion and loss per share of $3.60-$3.35. Market expectation is loss of $2.75 per share on revenue of $2.01 billion.

Currently, shares are at $142.95, down 5.10 percent from the previous close of $151.01 on a volume of 4,522,911. For the 52-week period, the shares traded in a range of $129.74-$308.0 on average volume of 2,989,773.

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