Shares of Teladoc Health Inc. (TDOC) soared over 11% in pre-market trading on Tuesday, October 31, 2024, fueled by the virtual healthcare provider's better-than-expected third-quarter results and upbeat full-year guidance.

For the three months ended September 30, 2024, Teladoc reported revenue of $640.5 million, down 3% year-over-year but exceeding analysts' estimates of $631.2 million. The company's Integrated Care segment, which includes general medical, expert services, and chronic condition management, saw revenue increase 2% to $383.7 million, driven by strong growth in visit revenue and increased membership.

Despite the overall revenue decline, Teladoc's net loss narrowed to $33.3 million, or $0.19 per share, beating analysts' expectations of a $0.29 per share loss. The company's adjusted EBITDA for the quarter was $83.3 million, down 6% from the prior year but still reflecting profitability.

Looking ahead, Teladoc raised its full-year 2024 revenue growth guidance to the low to mid-single digits, up from its previous forecast. The company also expects its Integrated Care segment's adjusted EBITDA margin to be between 14.9% and 15.3%, an improvement from its prior outlook.