Compared to Estimates, American Well (AMWL) Q1 Earnings: A Look at Key Metrics

Core Insights - American Well Corporation (AMWL) reported a revenue of $59.52 million for the quarter ended March 2024, reflecting a 7% decline year-over-year [1] - The earnings per share (EPS) was -$0.25, slightly worse than the -$0.24 reported in the same quarter last year [1] - The revenue fell short of the Zacks Consensus Estimate of $61.1 million by 2.58%, while the EPS was also below the consensus estimate of -$0.18, resulting in a surprise of -38.89% [1] Revenue Breakdown - Platform subscription revenue was $24.86 million, slightly below the estimated $24.97 million, marking a year-over-year decrease of 13.4% [2] - Other revenue amounted to $3.59 million, which was lower than the average estimate of $3.93 million, but represented a significant year-over-year increase of 29.6% [2] - Revenue from visits was reported at $31.08 million, falling short of the estimated $33.28 million, and showing a 4.5% decline compared to the previous year [2] Stock Performance - Over the past month, shares of American Well have decreased by 32.7%, contrasting with a 4.1% decline in the Zacks S&P 500 composite [2] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [2]