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FuboTV Q4 Sales $319.31M Beat $285.54M Estimate

Tiger Newspress2023-02-27

FuboTV reported quarterly sales of $319.31 million which beat the analyst consensus estimate of $285.54 million by 11.83 percent. This is a 38.20 percent increase over sales of $231.06 million the same period last year.

FuboTV Shares jumped 5.6% after earnings beat.Net losses widened to $141.1 million, or 76 cents a share, from $111.8 million, or 76 cents a share, in the year-ago period, while shares outstanding increased to about 200.1 million from 148.1 million.

Excluding nonrecurring items, the adjusted per-share losses narrowed to 39 cents from 50 cents and beat the FactSet loss consensus of 71 cents. Revenue grew 38.2% to $319.3 million, above the FactSet consensus of $285.6 million, while full-year revenue of $1.01 billion was up 58.0% from 2021.

The company ended 2022 with a record 1.445 million subscribers in North America, and 420,000 subscribers outside of North America. The company expects first-quarter revenue of $295 million to $300 million in North America $(NA)$ and $5.5 million to $6.5 million in the rest of the world (ROW), and NA subscribers of 1,140 to 1,160 and ROW subscribers of 368 to 373.

The stock has dropped 14.1% over the past three months through Friday, while the S&P 500 has slipped 1.4%.

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