Stock Alert: FuboTV Up 9%
Shares of live TV streaming platform fuboTV Inc. (FUBO) climbed 9 percent on Wednesday’s trading on strong first-quarter revenues.
fuboTV reported first-quarter net loss of $70.2 million or $0.59 per share, compared to $55.6 million or $1.83 per share last year. Total revenues for the quarter surged 135% to $119.7 million from $51.0 million last year.
Analysts polled by Thomson Reuters expected a loss of $0.46 per share on revenues of $103.88 million for the quarter. Analysts’ estimates typically exclude one-time items.
Advertising revenue for the quarter surged 206% to $12.6 million, while subscription revenue increased 131% to $107.1 million.
The stock was trading at $19.33, up $1.66 or 9 percent on the NYSE.
FUBO has traded between $8.12 and $62.29 during the past 52 weeks.
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