Why fuboTV Stock Was Up Today
Shares of fuboTV (NYSE: FUBO) initially fell 18% in after-hours trading on Wednesday before recovering. After digesting the company's recent earnings report, however, investors seemed to change their mind, with the share price up 2.6% as of noon ET on Thursday.
Revenue came in above expectations, but the company reported a wider net loss than analysts anticipated. It also guided for a significant deceleration in growth in 2022 over last year. Nonetheless, the streaming platform appears well positioned to take market share from cable.
Revenue grew 144% year over year, but excluding the acquisition of streaming company Molotov, adjusted revenue increased 119%. Overall, these are impressive numbers for a stock that has plummeted 80% over the last year.
Source Fool.com
