fuboTV Inc. (FUBO) is one of the leading global live TV streaming platforms with the largest premium content breadth along with interactivity and integrated wagering. The company is engaged in transcending the industry’s existing TV model. It aims to turn passive audiences into active members and outline a new interactive sports and entertainment TV category.
The price of FUBO stock during regular trading on February 23, 2022, with a decline of 4.87%, was $7.62. At last check in the pre-market, the stock plummeted further by 12.07%.
FUBO: Key Financials
On February 23, 2022, FUBO released its fourth-quarter 2021 financials ended December 31, 2021. Some of the significant points are discussed below.
Revenue
Revenue in the fourth quarter of 2021 was $231.05 million versus $105.07 million in the same period of 2020. The company observed a gain of approximately $125.9 million in its revenue over the yearly period. The company topped the estimated revenue target by $17.7 million.
EPS
Basic and diluted net loss in the fourth quarter of 2021 was $112 million or $0.76 per share against $195.3 million or $2.47 per share in the same period of 2020. The company’s net loss declined over the yearly period and it missed the analysts’ estimated EPS by -$0.09.
FUBO: Events and Happenings
On February 16, 2022, The PFL reported the renewal and growth of its collaboration with the Air Force Reserve for the third year in a row. The opening PFL Challenger Series commenced on February 18, on FUBO’s Sports Network. On February 10, 2022, FUBO updated securing market access contracts for its Sportsbook via Caesars Entertainment, Inc. The contracts provide wider mobile access regarding sports betting.
On February 8, 2022, FUBO’s gaming subsidiary and The Cleveland Cavaliers announced a market access contract. This resulted in the company’s Sportsbook making authorized mobile sports betting collaborator of the team when the sportsbook launched. On February 3, 2022, PFL informed its Challenger series continuation from Universal Studios on March 25 with heavyweight action. The Series airs exclusively on FUBO’s Sports Network.
Conclusion
FUBO down-performed by 80% in the last year. The latest development in the company’s stock is due to its unaudited financial outcomes release as the company missed the expected EPS of the analysts. For the first fiscal quarter of 2022, the company’s revenue guidance is in the range of $238.5 million against EPS of -$0.54.
