Summary by Moomoo AI
Teladoc Health, a global leader in virtual healthcare, reported mixed financial results for the quarter ended June 30, 2024. The company's total consolidated Adjusted EBITDA increased to $89.481 million from $72.155 million in the same quarter of the previous year, marking a 24% year-on-year growth. However, revenue saw a slight decline, dropping 2% to $642.444 million from $652.406 million in the prior year's quarter. The Teladoc Health Integrated Care segment experienced a significant boost, with Adjusted EBITDA jumping from $37.968 million to $64.028 million, a 69% increase. Conversely, the BetterHelp segment faced a downturn, with Adjusted EBITDA falling 26% to $25.453 million from $34.187 million. The company also recorded a substantial non-cash goodwill impairment charge of $790 million due to sustained decreases in share price and changes in the operating...Show More