Shares of FuboTV Inc.
were headed more than 3% higher in premarket trading Friday after the company topped revenue expectations but saw its losses widen relative to a year before. The streaming-media company generated a net loss of $152.7 million, or 82 cents a share, compared with a loss of $105.9 million, or 74 cents a share, in the year-prior quarter. Analysts tracked by FactSet were expecting a loss of 73 cents a share. The company also recorded a loss on the basis of adjusted earnings before interest, taxes, depreciation, and amortization (Ebitda) of $92.7 million, compared with $81.3 million in the year-earlier period. The FactSet consensus was for a $104.6 million adjusted Ebitda loss. Revenue at FuboTV rose to $224.8 million from $156.7 million, while analysts were anticipating $213.3 million. The company had 1.23 million North America subscribers in the third quarter, compared with 937,000 in the year-earlier quarter. For the fourth quarter, FuboTV executives anticipate $277.5 million to $282.5 million in North America revenue along with 1.355 million to 1.375 million North America subscribers. The company announced a few weeks back that it was discounting its sports-wagering business.
Amazon Earnings Are Today. All Eyes Are on Its Cloud Computing Business.