fuboTV (NYSE:FUBO) Announces Quarterly Earnings Results

fuboTV (NYSE:FUBOGet Free Report) released its quarterly earnings results on Tuesday. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04), FiscalAI reports. fuboTV had a negative return on equity of 6.66% and a net margin of 7.61%.The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the firm earned ($0.11) earnings per share. The business’s revenue was up 40.0% compared to the same quarter last year.

Here are the key takeaways from fuboTV’s conference call:

  • On a 12‑month pro forma basis the combined Fubo and Hulu Live generated $6.2 billion of revenue and finished with 6.2 million North America subscribers, with trailing 12‑month pro forma Adjusted EBITDA of $77.9 million and Q1 pro forma Adjusted EBITDA of $41.4 million.
  • Management is integrating Fubo inventory into the Disney Ad Server (going live soon) and will include Fubo Sports in ESPN’s Commerce Flow, which it expects will boost CPMs/fill rates and materially lower customer acquisition costs.
  • Renewal talks with NBCUniversal stalled after the Versant spinoff and Comcast paused engagement; NBC content was removed with only modest subscriber impact to date, but the situation poses a content and negotiation risk as contracts renew.
  • Financially the company reported a narrower pro forma net loss, entered the quarter with $458.6 million of cash, flagged a working‑capital (AR) drag on operating cash flow, announced a planned reverse stock split, and did not provide formal forward guidance yet.

fuboTV Trading Down 22.2%

Shares of FUBO stock opened at $1.77 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.48. fuboTV has a fifty-two week low of $1.57 and a fifty-two week high of $4.72. The firm’s 50 day moving average price is $2.61 and its two-hundred day moving average price is $3.36. The stock has a market cap of $604.90 million, a price-to-earnings ratio of 4.90 and a beta of 2.04.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FUBO shares. Zacks Research cut shares of fuboTV from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of fuboTV in a research note on Wednesday, October 8th. Raymond James Financial assumed coverage on fuboTV in a report on Monday, December 1st. They issued a “market perform” rating for the company. Needham & Company LLC decreased their price objective on fuboTV from $4.25 to $3.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Wall Street Zen raised fuboTV from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, fuboTV currently has a consensus rating of “Hold” and an average target price of $4.17.

Read Our Latest Report on fuboTV

Trending Headlines about fuboTV

Here are the key news stories impacting fuboTV this week:

Insider Activity

In related news, COO Alberto Horihuela sold 138,753 shares of fuboTV stock in a transaction on Friday, November 21st. The shares were sold at an average price of $3.16, for a total transaction of $438,459.48. Following the transaction, the chief operating officer owned 1,563,830 shares in the company, valued at approximately $4,941,702.80. The trade was a 8.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO John Janedis sold 170,585 shares of the stock in a transaction on Friday, November 21st. The shares were sold at an average price of $3.16, for a total value of $539,048.60. Following the completion of the sale, the chief financial officer owned 130,478 shares of the company’s stock, valued at approximately $412,310.48. This represents a 56.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 610,095 shares of company stock valued at $1,818,811. Company insiders own 5.30% of the company’s stock.

Institutional Trading of fuboTV

Several large investors have recently bought and sold shares of FUBO. Sei Investments Co. raised its holdings in shares of fuboTV by 339.4% during the second quarter. Sei Investments Co. now owns 84,398 shares of the company’s stock valued at $326,000 after buying an additional 65,190 shares during the last quarter. NewEdge Advisors LLC boosted its stake in fuboTV by 3,344.7% during the 2nd quarter. NewEdge Advisors LLC now owns 51,671 shares of the company’s stock valued at $199,000 after purchasing an additional 50,171 shares in the last quarter. Baird Financial Group Inc. grew its holdings in fuboTV by 20.1% during the second quarter. Baird Financial Group Inc. now owns 61,958 shares of the company’s stock worth $239,000 after acquiring an additional 10,363 shares during the period. Creative Planning grew its stake in shares of fuboTV by 17.3% in the 2nd quarter. Creative Planning now owns 106,020 shares of the company’s stock worth $409,000 after purchasing an additional 15,602 shares during the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new position in fuboTV in the third quarter worth approximately $148,000. Institutional investors and hedge funds own 39.31% of the company’s stock.

fuboTV Company Profile

(Get Free Report)

fuboTV Inc is a sports-focused live TV streaming platform that provides subscribers with access to a broad range of televised sports, news and entertainment programming. The service offers tiered channel packages featuring major networks such as ESPN, Fox Sports, NBC and regional sports networks, along with bundled options for premium channels and international programming. A core element of fuboTV’s proposition is its cloud DVR functionality, which enables users to record live events and store them for later viewing.

In addition to its live television offerings, fuboTV has developed an in-house ad-supported streaming network—fubo Sports Network—that delivers original sports news, analysis and highlights.

Further Reading

Earnings History for fuboTV (NYSE:FUBO)

Receive News & Ratings for fuboTV Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for fuboTV and related companies with MarketBeat.com's FREE daily email newsletter.