FuboTV Ends 2022 With 1.4M North American Subscribers, Passes $1B In Yearly Revenue; Company Announces $68M In New Fundraising As Investors Blitz Stock
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deadline.comStreaming pay-TV bundle provider FuboTV closed 2022 with 1.445 million subscribers in North America and posted healthy numbers in many financial categories in the fourth quarter.
Despite those positives, shares in Fubo fell 17% on a heavier-than-normal start to the trading day after the company revealed $68.1 million in new fundraising.
The at-the-market raise was announced in slightly unorthodox fashion, just prior to the Q&A portion of a quarterly earnings call with Wall Street analysts.
The company affirmed its prior guidance that it will begin to report positive cash flow by 2025, saying the influx in financing would enable it to reach that goal.
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