Fubo Hits 1.7M Subscribers In Mixed Q4, Hails Pending Acquisition By Disney; Stock Plunges 20%
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deadline.comPay-TV provider Fubo posted mixed fourth-quarter results and highlighted its pending acquisition by Disney during a conference call with Wall Street analysts.
Revenue ticked up 8% in the period ended Dec. 31 compared with the year-ago period, hitting $433.8 million. Net losses per share narrowed to 2 cents from 18 cents in the year-earlier quarter.
The top-line figure lagged behind analysts’ consensus forecast but the company beat expectations on the bottom line. Fubo ended the quarter with nearly 1.7 million subscribers.
The full-year tally in 2024 rose 4% over 2023, though the company predicted a sizable dip in the first quarter due in large part to a carriage dispute with TelevisaUnivision.
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