Why Live TV Streaming Platform FuboTV's Stock Is Shooting Higher Today
Portfolio Pulse from Lekha Gupta
FuboTV Inc's Q3 FY23 results exceeded expectations, with sales growing 43% Y/Y to $311.8 million, beating the consensus of $286.2 million. The company's gross margin improved by 884 bps Y/Y to 6%, and subscriber-related expenses reduced by 619 bps to 89% of revenue. Adjusted EPS loss of $(0.22) also beat the consensus loss of $(0.32). The company raised its FY23 revenue guidance and paid subscribers outlook. FuboTV's shares were up 4% at $2.85 on the last check Friday.
November 03, 2023 | 2:58 pm
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FuboTV's Q3 FY23 results exceeded expectations, leading to a 4% increase in its stock price. The company also raised its FY23 revenue guidance and paid subscribers outlook, indicating positive future performance.
FuboTV's better-than-expected Q3 FY23 results and the upward revision of its FY23 revenue guidance and paid subscribers outlook are positive indicators for the company's performance. This has led to an increase in its stock price, and the trend is likely to continue in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100