Authorization

FuboTV stock falls 16% amid ballooning losses even as subscriber growth jumped in 2020

FuboTV stock falls 16% amid ballooning losses even as subscriber growth jumped in 2020

The fuboTV logo is hung from the New York Stock Exchange on the day of its IPO in the Manhattan borough of New York City, New York, U.S., October 8, 2020.
Reuters/Carlo Allegri




FuboTV turned in a $195 million net loss on revenues of just $105 million in the fourth quarter.




Annual net losses topped $570 million as the company attempts to build out its sports wagering service.




FuboTV added over 90,000 subscribers during the fourth quarter, giving the company a total of 547,880 as of the end of December.




Sign up here for our daily newsletter, 10 Things Before the Opening Bell.


Shares of FuboTV fell as much as 16% on Wednesday after the sports streaming company reported ballooning losses in its fourth-quarter earnings report.FuboTV posted a net loss of $570.5 million in 2020 on revenues of just $217 million. Operating losses hit $479.9 million on the year as well, a more than 12-fold increase from 2019's figure. Fubo lost $195 million in the fourth quarter alone.The sports streaming service did manage to add 92,800 subscribers in the quarter that ended in December, pushing the company over the half a million subscriber mark for the first time.However, FuboTV expects to lose subscribers in the first quarter of 2021, projecting between 520,000-530,000 subscribers by the end of March compared to the 547,880 the company had at the end of 2020.
See also:
Leave a comment
News
  • Latest
  • Read
  • Commented
Calendar Content
«    Апрель 2021    »
ПнВтСрЧтПтСбВс
 1234
567891011
12131415161718
19202122232425
2627282930