American Well (AMWL) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - American Well Corporation (AMWL) reported revenue of $62.79 million for the quarter ended June 2024, reflecting a 0.5% increase year-over-year and a 3.30% surprise over the Zacks Consensus Estimate of $60.78 million [1] - The company's EPS was -$3.36, an improvement from -$4.60 in the same quarter last year, with a positive surprise of 14.72% compared to the consensus estimate of -$3.94 [1] Revenue Breakdown - Platform subscription revenue was $27.50 million, slightly below the average estimate of $26.32 million, representing a year-over-year decline of 1.9% [3] - Other revenue reached $6.56 million, exceeding the average estimate of $5.35 million, marking a year-over-year increase of 3.5% [4] - Revenue from visits totaled $28.73 million, slightly below the average estimate of $28.95 million, with a year-over-year increase of 2.3% [5] Stock Performance - American Well's shares have increased by 42.2% over the past month, contrasting with a -0.4% change in the Zacks S&P 500 composite [5] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [5]