FuboTV leaps 19% as most financial metrics more than double in Q1

May 11, 2021 4:50 PM ETfuboTV Inc. (FUBO)By: Jason Aycock, SA News Editor52 Comments
  • FuboTV (NYSE:FUBO) has jumped 19% after hours following its first-quarter earnings - a beat-and-raise when it comes to sunny revenue figures.
  • That's an add-on to an impressive 8.1% gain in the regular session before earnings.
  • Revenues more than doubled, growing 135% to $119.7M, with broad strength.
  • Subscribers grew 105% year-over-year (and 8% from last quarter) to 590,430. Meanwhile, average revenue per user per month also jumped, up 28% to $69.09. Ad ARPU rose 57% to $7.11.
  • It's an "inflection point" for the company, CEO David Gandler and Chairman Edgar Bronfman Jr. say. Despite past seasonality, they note this is the first time the first quarter has shown sequential revenue and subscriber growth, meaning "consumers are increasingly cutting the cord."
  • Expenses jumped 80% as well, and so net loss widened slightly to $70.2M.
  • Revenue breakout: Advertising, $12.6M (up 206%); Subscriptions, $107.1M (up 131%).
  • Liquidity at quarter-end was $465M.
  • For Q2, it's guiding to revenue of $120M-$122M (above consensus for $98.4M) and 600,000-605,000 subscribers. For the full year, it sees revenues of $520M-$530M (above consensus for $4274.7M) and subscribers to hit 830,000-850,000.
  • Conference call to come at 5:30 p.m.
  • Press release
  • Shareholder letter

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