Teladoc's Preliminary Results Point to a Blockbuster First Quarter
As the world deals with the COVID-19 pandemic, one trend that was already gaining steam is now experiencing even greater adoption: telemedicine and virtual healthcare. Patients leery of going to the doctor's office for fear of contracting the disease are increasingly turning to virtual office visits to bridge the gap.
One of the biggest beneficiaries of this trend has been Teladoc Health (NYSE: TDOC). Adoption of the virtual healthcare platform was already accelerating, driving the stock up more than 40%. And that was before the coronavirus really established a foothold in the U.S. Since mid-February, it's gained an additional 44% including today's jump, pushing the stock up more than 100% so far this year.
Teladoc reported preliminary results for the first quarter that far exceeded the company's already ambitious forecast. Let's look at the numbers and see what has investors so bullish.
Source Fool.com
