FuboTV stock is trading sharply lower Wednesday after reporting
mixed fourth-quarter results.
For the quarter, FuboTV (ticker: FUBO), an online TV provider, posted revenue of $105.1 million, up 98%, and ahead of the guidance range of $94 million-$98 million
announced in January. The company reported 547,880 subscribers at year-end, up 73% from a year ago. Hours streamed increased 66% to 205.9 million. Average revenue per user per month was $59.19, up 17%. Subscription revenue was $91.4 million, up 91%, while ad revenue was $13.1 million, up 157%.
The company had a loss in the quarter of $167.8 million, or $2.47 a share, which is wider than the Street consensus estimate for a loss of 73 cents a share—but FuboTV investors are focused more on the potential for the company’s emerging gambling business than on short-term profitability.
For the first quarter, the company projects revenue of between $101 million and $103 million, with subscribers falling slightly on a sequential basis to between 520,000 and 530,000. For the full year, FuboTV sees revenue ranging from $460 million to $470 million, with subscribers increasing to between 766,000 and 770,000. Street consensus previously had called for revenue of $99.4 million for the quarter and $457 million for the year.