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FuboTV Q1 Loss Narrows as Revenue Surges; Raises 2021 Guidance

05/11/2021 12:39

04:29 PM EDT, 05/11/2021 (MT Newswires) -- FuboTV (FUBO) on Tuesday posted a Q1 loss of $0.59 per share, narrower than a loss of $1.83 a year earlier.

Analysts polled by Capital IQ expected a loss of $0.57.

Revenue surged to $119.7 million from $7.3 million. That beat the projection of analysts polled by Capital IQ of $103.9 million.

Subscribers jumped 105% to 590,430 during the quarter.

The company expects Q2 revenue of $120 million to $122 million and subscribers of 600,000 to 605,000.

FuboTV raised its 2021 revenue outlook to $520 million to $530 million from the prior range of $460 million to $470 million and its subscriber outlook to 830,000 to 850,000 from the previous guidance of 760,000 to 770,000.

The Street forecasts revenue of $98.4 million in Q2 and $472.7 million in 2021.

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