Teladoc Health (NYSE: TDOC) sank 74% last year after two billion-dollar goodwill impairment charges were linked to an acquisition -- and concerns about the company's path to profitability. A brighter third quarter raised hopes. The company didn't report further impairment charges and even narrowed its quarterly loss.
But Teladoc Health crushed investors' optimism this past week when it reported fourth-quarter and full-year earnings. The telemedicine giant announced an additional goodwill impairment charge -- and that pushed the company's annual loss to more than $13 billion. At the same time, Teladoc offered investors hope in the form of a new focus. Is the worst over for this embattled company? Let's take a closer look.
First, some background on Teladoc's successes and failures. The company is a leader in the high-growth area of telemedicine. During the early days of the pandemic, Teladoc's revenue and online visits soared in the triple digits as people favored staying at home over making a trip to doctors' offices.
Source Fool.com