Why fuboTV Stock Jumped on Wednesday

fuboTV (NYSE: FUBO) surprised investors with better-than-expected revenue in the second quarter. The company also raised its full-year outlook for revenue, which is now expected in the range of $560 million to $570 million, representing a 110% increase over 2020 and above analysts' previous expectations.

"Within the quarter we made meaningful advancement toward our long-term growth and margin targets, while also capitalizing on the favorable trends we are seeing in the category," the company said in its Q2 shareholder letter.

The stock was up 9.3% at 10:11 a.m. EDT on Wednesday. It has been one of the better-performing streaming stocks over the last year.

Source Fool.com