FuboTV Gaining Popularity North America, High Growth In Paid Subscribers Show
Portfolio Pulse from Anusuya Lahiri
FuboTV Inc (NYSE:FUBO) reported fiscal Q1 2024 results with a 24% Y/Y sales increase to $402.4 million, surpassing analyst estimates. Adjusted EPS loss improved to $(0.11), beating expectations. The company saw significant growth in North America with a 24% revenue increase and an 18% rise in paid subscribers. FuboTV remains optimistic about its antitrust lawsuit against The Walt Disney Co (NYSE:DIS), FOX Corp (NASDAQ:FOX), and Warner Bros. Discovery Inc (NASDAQ:WBD). FuboTV's stock fluctuated, opening with a 10% premarket gain but closing down 5.16% at $1.46. The company's performance and legal confidence could impact its stock and those of DIS, FOX, and WBD. FUBO is also featured in ProShares Trust ProShares Metaverse ETF (NYSE:VERS) and IShares Robotics And Artificial Intelligence Multisector ETF (NYSE:IRBO).
May 03, 2024 | 2:10 pm
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NEGATIVE IMPACT
FuboTV reported strong Q1 2024 results with significant sales growth and subscriber increase, but shares closed down 5.16% after initial gains.
Despite beating earnings and subscriber growth expectations, FUBO's stock price dropped, indicating market reactions may not always align with positive earnings reports. The legal optimism could have mixed impacts.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100
NEUTRAL IMPACT
FuboTV remains optimistic in its antitrust lawsuit against The Walt Disney Co, which could impact DIS's stock depending on lawsuit outcomes.
The impact on DIS stock is uncertain and depends on the lawsuit's outcome, which is currently seen as a neutral factor until more developments occur.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
FOX Corp is part of the antitrust lawsuit with FuboTV, creating potential legal challenges that could influence FOX's stock performance.
Similar to DIS, the impact on FOX's stock is contingent on the lawsuit's developments, which are currently unpredictable.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
FUBO's inclusion in IShares Robotics And Artificial Intelligence Multisector ETF could slightly impact IRBO's performance, depending on FUBO's stock movements.
Given FUBO's presence in IRBO's portfolio, fluctuations in FUBO's stock could have a minor indirect effect on IRBO, though the impact is diluted by the ETF's diversified nature.
CONFIDENCE 60
IMPORTANCE 40
RELEVANCE 30
NEUTRAL IMPACT
FUBO is featured in ProShares Trust ProShares Metaverse ETF, and its stock performance could indirectly affect VERS's value.
As FUBO is part of VERS's holdings, its stock performance could have a minor indirect impact on VERS's overall value, though diversified holdings mitigate this effect.
CONFIDENCE 60
IMPORTANCE 40
RELEVANCE 30
NEUTRAL IMPACT
Warner Bros. Discovery Inc is involved in FuboTV's antitrust lawsuit, which could have implications for WBD's stock depending on legal outcomes.
The effect on WBD's stock is uncertain, hinging on future legal developments and outcomes.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50