Why FuboTV Stock Plummeted Today
FuboTV (NYSE: FUBO) stock sank in Friday's trading following the company's fourth-quarter earnings release. The streaming video specialist's share price closed out the day down 13.9%.
FuboTV published its Q4 results before the market opened this morning, and the company's earnings beat in the period wasn't enough to offset the market's disappointment with a big sales miss. Making matters worse, the company's forward guidance came in much worse than anticipated.
In the fourth quarter, FuboTV recorded a non-GAAP (generally accepted accounting principles) adjusted loss of $0.02 per share on sales of $431.82 million. The company's adjusted loss beat the average analyst estimate by $0.09 per share, but revenue for the period came in $13.35 million short of the target. Sales were up roughly 7.8% year over year, and the business closed out the period with record paid subscribers and revenue per user -- but there was a big catch.
Source Fool.com
