Why Teladoc Stock Plunged Today
Shares of Teladoc Health (NYSE: TDOC) fell 17% on Thursday after the telemedicine provider's second-quarter financial results were dented by a massive impairment charge.
Teladoc's revenue rose 18% year over year to $592.4 million. This growth was driven by a 20% rise in access fees revenue, to $518.7 million, and a 7% increase in visit fees, to $66.7 million.
Teladoc continues to add new customers even as more people are returning to traditional healthcare locations. Its U.S. paid membership grew by 9% to 56.6 million. People are also using its telehealth platform more often, with visits in the U.S. up 32%, to $3.6 million.
Source Fool.com
