fuboTV Stock Down 78%: Time to Buy?
fuboTV (NYSE: FUBO) showed all the potential to be millionaire-making stock due to its robust growth in subscribers and market-leading position as a sports-centric TV streaming service. And the stock looks tempting as it is down 78% over the last year despite continued growth in the business. But the company's recent quarter and management's 2023 guidance raise questions about how competitive it really is.
Let's a look at fuboTV's fourth-quarter results, and why its best days may very well be behind it.
fuboTV ended 2022 on a high note. Total revenue grew 38% year over year, driven by strong gains in North America, where subscriber count grew 29% year over year and average revenue per member improved by 4%. The latter was due to a healthy uptake in premium-priced subscription bundles. The strong performance also reflects a strong advertising year, in which fuboTV's top 10 advertisers from 2021 increased their spending by 85% year over year.
Source Fool.com
