Dade Hayes Finance EditorFuboTV posted a 78% rise in revenue during the first quarter, driven by growth in subscriptions, ad sales and viewing time.The results came via a pro forma filing of results for the quarter ending March 31 by FaceBank Group, whose acquisition of Fubo closed on April 1.
The name of the combined entity has formally been changed back to FuboTV.The company’s shares currently trade over the counter, but are expected to move to a major exchange in the coming months.
The stock rose 21% to $10.50 Wednesday on the earnings report, plus news of $46 million in additional investment funding secured since the merger’s close.
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