FuboTV Gaining Popularity North America, High Growth In Paid Subscribers Show
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 03 2024
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Source: Benzinga
- FuboTV Financial Performance: FuboTV Inc's shares rose by 10% in premarket trading after reporting fiscal first-quarter 2024 results with sales growing 24% Y/Y to $402.4 million, beating analyst estimates.
- North America Streaming: Revenue in North America grew by 24% Y/Y to $394 million, with paid subscribers increasing by 18% Y/Y to 1.511 million, and average revenue per user (ARPU) rising by 10% Y/Y to $84.54.
- Rest of the World Streaming: Revenue outside North America was $8.4 million, a 7% Y/Y increase, with paid subscriber growth of 5% Y/Y to 397,000, and ARPU growing by 7% Y/Y to $7.
- Legal Matters: FuboTV remains confident in its antitrust lawsuit against The Walt Disney Co, FOX Corp, and Warner Bros. Discovery Inc over a planned sports streaming joint venture, with ongoing investigations by the Department of Justice and congressional inquiries.
- Outlook and Stock Performance: FuboTV expects second-quarter revenue of $365.5 million - $376.5 million and fiscal 2024 revenue of $1.558 billion - $1.580 billion. FUBO stock gained 34% in the last 12 months but gave up premarket gains and is down 5.16% at $1.46.
Analyst Views on FUBO
Wall Street analysts forecast FUBO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FUBO is 4.63 USD with a low forecast of 4.25 USD and a high forecast of 5.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
5 Analyst Rating
2 Buy
3 Hold
0 Sell
Moderate Buy
Current: 2.560
Low
4.25
Averages
4.63
High
5.00
Current: 2.560
Low
4.25
Averages
4.63
High
5.00
About FUBO
FuboTV Inc. is a live television (TV) streaming company. The Company offers subscribers access to tens of thousands of live sporting events annually, alongside news and entertainment content, both live and on demand. It offers consumers a broad set of sports, including more than 55,000 live sporting events, and entertainment-focused programming offerings from Fubo and Hulu + Live TV. It owns Hulu + Live TV (entertainment), Fubo (sports) and Molotov (entertainment and sports), which stream in markets around the globe. FuboTV Inc. is an affiliate of The Walt Disney Company. The Company's platform is designed to enable customers to access content through streaming devices and on Smart TVs, mobile phones, tablets, and computers. Its platform provides with a broad suite of features and personalization capabilities, such as multi-channel viewing capabilities, favorites lists and a recommendation engine, as well as 4K streaming and Cloud DVR offerings.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
