Here's Why fuboTV Stock Surged Today
Shares of fuboTV (NYSE: FUBO) jumped on Wednesday after the sports streaming company announced strong first-quarter results. At the close of trading, its stock price was up by 9.9%.
FuboTV's revenue rocketed upward by 135% year over year to $119.7 million, fueled by expectation-crushing customer additions. The company ended the quarter with 590,430 subscribers, representing growth of 105% year over year and up 8% from three months prior.
CEO David Gandler said people are increasingly canceling their cable packages and replacing them with streaming services. "We see this trend continuing to accelerate as more consumers discover they can cut the cord without losing access to the sports teams, live channels, and content they love," he said.
Source Fool.com
