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Teladoc Health dropped 22% to $15.98 after the online health service provider reported weaker-than-expected quarterly revenue.

Revenue in the fourth quarter increased 4% to $660.5 million from $637.7 million, net loss shrank to $28.9 million from $3.8 billion, and diluted loss per share fell to 17 cents from $23.49 a year ago.

Results for the fourth quarter of 2022 primarily included non-cash goodwill impairment charges of $3.77 billion, or $23.26 per share, stock-based compensation expense of $50.8 million, or $0.31 per share, and amortization of acquired intangibles of $50.2 million, or $0.31 per share.

Net loss for the fourth quarter of 2022 also included $3.7 million, or $0.02 per share, of restructuring costs primarily related to the abandonment of certain excess leased office space.

21 Feb, 2024

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