Streaming pay-TV provider FuboTV reported second-quarter results far better than Wall Street analysts expected, showing a gain of 91,000 subscribers compared with the year-ago quarter.Given the widespread lockdowns and closing of movie theaters and other out-of-home options in the 2020 quarter, when Covid-19 lifted most streaming players, the rise in subscribers was noteworthy.
FuboTV, which launched as a sports-focused offering in 2015 but has since added general entertainment, now has 682,000 total subscribers.
Analysts had expected the company to add just 12,000 subscribers.Total revenue nearly tripled to a record $130.9 million and adjusted losses of 38 cents a share came in more than a dime lower than forecasts.
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