WebMD Health (WBMD) Stock Slides Despite Q2 Earnings Beat

NEW YORK (TheStreet) —¬†Shares of WebMD Health (WBMD) were falling 7.12% to $55.21 on complicated trade volume late Tuesday morning as a association posted somewhat better-than-anticipated formula for a 2016 second quarter, though pronounced monthly trade declined.

After yesterday’s marketplace close, a New York-based health information website reported gain of 39 cents per diluted share, commanding analysts’ estimates by a penny.

Revenue for a entertain was $167.6 million, while Wall Street was forecasting income of $165.4 million.

However, normal monthly trade fell 6% year-over-year to 199 million singular users during a period.

The association expects full-year gain per share to be between $1.78 and $1.90 on income of $695 million to $708 million. Analysts are looking for gain of $1.84 per share on income of $703.3 million for 2016.

For a third quarter, WebMD sees income between $168 million and $171 million. Analysts are displaying income of $168.8 million.

Cowen cut a cost aim to $67 from $70 and confirmed a “outperform” rating on a batch following a in-line quarter, a Fly reports.

The organisation expects shares to be diseased on concerns about web trade and changes to Alphabet‘s (GOOGL) Google search.

Cowen believes a concerns are artificial as WebMD’s Medscape site is insulated from a negligence traffic, a Fly noted.

About 1.65 million of a company’s shares altered hands so distant today, above a normal volume of 452,651 shares per day.

Separately,¬†TheStreet Ratings Team has a “Buy” rating with a measure of B on a stock.