Why fuboTV Is Up Nearly 10% This Week
Even with a wave of profit-taking after the fact, fuboTV (NYSE: FUBO) stock is still on pace to end the week up almost 10% thanks to a major bullish response to Tuesday's post-close release of last quarter's results.
While traditional cable customers continue to cancel their expensive, bloated service, fuboTV continues to add many of those cord-cutters to its ranks. The company added 91,291 (net) subscribers to its streaming-cable customer base during its second quarter, bringing its headcount to 681,721. In addition to collecting monthly service fees from them, fuboTV also increased its advertising revenue to $16.5 million for the three-month stretch ending in June, up 281% year over year.
Image source: Getty Images.
Source Fool.com
