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Teladoc Health Inc rose 5% to $27.02 after the telehealth platform operator lifted its revenue and adjusted earnings outlook for the year.

Revenue in the first quarter increased 11% to $629.2 million and net loss in the quarter dropped to $69 million from $6.7 billion and diluted loss per share fell to 42 cents to $41.58 a year ago.

In the first quarter of 2022, the company recorded a goodwill impairment charge of $6.6 billion.

The telemedicine company forecasted second quarter revenue between $635 million and $660 million and between $2.575 billion and $2.675 billion in the full-year 2023.

The company also estimated adjusted operating earnings between $60 million and $68 million in the second quarter and between $285 million and $325 million in the full-year 2023.

27 Apr, 2023

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