Teladoc Health, Inc. (TDOC) gained in the current market after announcing its partnership with Amazon Alexa. TDOC values at $77.05, gaining more than 9% compared to Friday’s closing price. The stock closed at $70.73 at the end of the last trading session. The stock volume traded in the last trading session was around 4.71 million shares. The current market cap of the company is around $12.17 billion.
TDOC partners with Amazon Alexa
Teladoc Health, Inc. (TDOC) announced in a press release today that they have entered into a joint venture with Amazon to launch Teladoc Health on Alexa. With this deal, Alexa users in the US will be able to connect with Teledoc care providers. The service will provide 24/7. This is a very new experience of the company with Amazon Alexa, due to which users will be able to reach virtual health care support via Teledoc on the supported Echo devices. These devices include Echo, Echo Dot, and Echo Show. In the first phase of the launch, they will provide audio support, and soon video support will also be launched.
TDOC CPO Remarks
Teladoc Health’s chief product officer Donna Boyer said the partnership with Amazon is another step toward lowering healthcare costs. We are giving a new and easy option for people to interact with a doctor by combining our virtual first care experience with Echo devices. We are reaching customers where they are to keep members happy.
TDOC Recently Announced Fiscal 2021 Results
Its revenue was around $2.3 billion in fiscal 2021, increasing more than 86%. The company is expanding its operation, which is why its profitability was negative. That is why the company reported a net loss of $428.8 million.
For this reason, the corporation has published its financial projections in light of the pandemic uncertainty. Revenues of $565 million to $571 million are expected in the first quarter of 2022, according to TDOC. According to the company’s estimates, it will earn between $2.55 million and $2.65 billion in the next fiscal year. With a loss per share expected to range from $$0.60-$0.50 in Q1, they foresee a $$1.60-$1.40 loss per share for the whole fiscal year of 2022.
Conclusion
The current deal with Amazon Alexa will bring more customers to the company. It will also increase its brand positioning and get closer to its target audience.
