Why fuboTV Stock Popped After Earnings
Shares of live sports streaming service fuboTV (NYSE: FUBO) shot up 4.5% through 11 a.m. ET Friday after reporting better than expected revenue (but no profit) this morning.
Heading into the third quarter, analysts had forecast fuboTV would lose $0.32 per share on sales of only $286.2 million. fuboTV beat that revenue number with a stick, reporting quarterly sales of $313 million. And while the company was not profitable for the quarter, its per-share loss as calculated according to generally accepted accounting principles (GAAP) was only $0.29.
U.S. sales (the company's biggest business) for the quarter surged 43% in comparison to last year's Q3 -- twice as fast as the company's 20% growth in subscribers, indicating strong financial benefits as the company gains scale. Indeed, average revenue per user grew 17% across this larger user base.
Source Fool.com
