FuboTV (FUBO) is tumbling 20% after the company provided lower-than-expected first-quarter revenue guidance and predicted that its subscriber base would fall during the current quarter.
Moreover, FUBO delivered mixed Q4 results.
Huge crowds in a sports stadium with their smartphones streaming a live game.
A Q1 Guidance Miss and an Underwhelming Subscription Outlook
FUBO provided Q1 revenue guidance of $407.5 million to $418.5 million, well below analysts’ average outlook of $436.9 million.
Further, Fubo predicted that its subscriber base will come in at 1.43 million to 1.46 million as of the end of the current quarter. At the midpoint of the guidance range, that would represent a drop of 4% versus the same period a year earlier. Also noteworthy is that Fubo’s paid subscriber base outside of North America tumbled almost 11% year-over-year in Q4 to 362,000.
Mixed Q4 Results
Fubo’s Q4 per-share loss, excluding certain items, was 2 cents, significantly better than analysts’ average estimate of a per-share loss of 11 cents. However, it generated $431.8 million in revenue during the quarter, meaningfully below the average estimate of $445.2 million.
Fubo’s Comments
“Notable achievements in 2024 included the launch of standalone sports and entertainment skinny bundles as part of our mission to be a Super Aggregator, and expanded availability of our market-first user-configurated Multiview product to Roku devices,” CEO David Gandler said in a statement.
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This article is originally published at Insider Monkey.
