fuboTV's Monster Quarter: Revenue Increases by 156%
fuboTV (NYSE: FUBO), the sports-centric streaming substitute for cable TV, reported third-quarter results after the market closed on Nov. 9. The announcement reveals fuboTV is growing revenue rapidly as consumers increasingly prefer the convenient service. Moreover, this trend is unlikely to reverse and could provide a several-year-long tailwind for fuboTV.
Still, investors were not impressed with the company's figures and sent the stock down by more than 20% on the day following the release. Let's take a closer look at fuboTV's impressive sales figures and discern why the market did not like what it saw.
fuboTV stock falls by over 20% on the day after its Q3 earnings release. Image source: Getty Images.
Source Fool.com