FuboTV exceeded Wall Street estimates for the fourth quarter, with revenue more than doubling from the year-ago period to $231.1 million and net losses coming in at 57 cents a share.The losses widened from 39 cents in the 2020 quarter.The streaming pay-TV outlet reached 1.1 million subscribers in the period ending December 31, up 106% from the year-ago quarter.
That tally did not include the subscribers gained via the acquisition of French streaming provider Molotov, which was announced last November.While subscriber growth continues to be a central priority for Fubo, which launched in 2015, it has recently diversified into sports betting and also made investments in advertising.
In 2021, ad revenue reached $74 million, a new record.In 2022, FuboTV said it expects $232 million to $237 million in revenue for the first quarter and $1.08 billion to $1.09 billion in revenue for the full year.
The first quarter is typically “softer” than the fourth quarter, the company warned.Shares in Fubo, which had closed the regular trading day at $7.62, down 5%, slid another 3% in after-hours trading.
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