Tuesday December 5, 2023

FuboTV Stock Rebounds With Preliminary Q4 Gains

FoboTV gets into sports betting space.
Copy Link
Link Copied
Link Copied

After shares plummeted on Monday, sports-centric streaming service FuboTV rebounded Tuesday following the company’s announcement of preliminary fourth-quarter results. 

The stock rose as much as 26.13%, closing the day at $27.40, up 12.71%.

FuboTV’s total revenue in the quarter is expected to land between $94 million and $98 million, a 77% to 84% gain from the same period in 2019. The company previously estimated it would reach $80 million to $85 million. 

Total subscribers are expected to reach 545,000 in Q4, a 72% increase from last year, also beating the company’s forecast.  

FuboTV still has a long way to go before rivaling top livestreaming competitors.

  • Hulu + Live TV — 4.1 million subscribers 
  • YouTube TV — More than 3 million subscribers 
  • Sling TV — 2.5 million subscribers 

Since going public in October at an IPO price of $10 per share, Fubo has become a perplexing case for analysts. Shares skyrocketed to $62 in late December as the company announced plans to move into sports wagering. 

LightShed Partners analyst Rich Greenfield recently projected FuboTV stock to eventually fall to $8 per share, saying it “may be the most compelling short we have ever identified.”

But Needham & Co.’s Laura Martin gave the stock a “buy” rating and called it “an inexpensive way for public investors to participate in the U.S. consumer shift toward OTT and streaming TV.”

Copy Link
Link Copied
Link Copied

What to Read

The Australia men's cricket team celebrating winning the 2023 ICC Men's Cricket World Cup.

Amazon Secures ICC Cricket Broadcast Media Rights in Australia

Prime Video will be Australia's exclusive home for ICC events through 2027.
Dallas Cowboys quarterback Dak Prescott throws a pass during the first half against the Seattle Seahawks at AT&T Stadium.

Amazon Bounces Back With Record Viewership

The Dallas Cowboys’ win over the Seattle Seahawks averaged 15.26 million viewers.
Miami Dolphins running back Raheem Mostert runs with the ball against New York Jets cornerback Sauce Gardner during the second half at MetLife Stadium.

On Black Friday, Amazon Delivers Lowest-Rated Game

It was the second-least-watched game on Amazon in 2023.
NASCAR president Steve Phelps speaks to the media prior to practice for the Cup Series Championship race at Phoenix Raceway.

NASCAR Set To Add At Least One New Broadcast Partner

Previous reports suggest that NASCAR will lean into streaming.
podcast thumbnail mobile
Front Office Sports Today

Premier League Sets New Bar with Media Deals


Featured Today

The College Football Playoff is considering rotating TV networks for the national championship game.

CFP Considers Super Bowl-Like Rotation For National Championship Game

Multiple networks could share rights to the championship game, sources told FOS.
Brett Favre
November 27, 2023

Favre Welfare Case Hold-Up? "AG’s Office Has Not Expressed Interest In Pursuing"

The DOJ interviewed Brett Favre in early 2020.
The future of the Pac-12 rests on a court decision.
November 24, 2023

The Pac-12 Plays Its Final Regular-Season Game. Then A Court Decides Its Fate.

The conference's future rests with a court decision.
Lane Kiffin
November 9, 2023

Ole Miss, Lane Kiffin Lawyers Argue for Dismissal of Player Lawsuit

FOS obtained audio of Lane Kiffin's interaction with the player behind lawsuit.


Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Multiple - USA Careers
Live Nation
Multiple - USA Careers
Saco Bay PT
Multiple - USA Careers
The swoosh logo at Nike Eugene.

Nike Misses Revenue Wall Street’s Projections, But Company’s Stock Soar

The company offset the shortfall by exceeding expectations in earnings per share.
June 30, 2023

Nike To Revive Kobe Signature Shoe Line

Late HOFer will again be the center of a signature shoe line.
The PGA Tour and PIF have a self-imposed Dec. 31 deadline to finalize their golf merger.
August 7, 2023

Saudi Arabia’s PIF Aims Higher With Launch of Sports-Focused Investment Company

The PIF has launched a new company, SRJ Sports Investments.

NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.
At Dick's Sporting Goods in Fairless Hills, Store Administrative Assistant Christine Vandfermay, of Philadelphia, restocks some Philadelphia Eagles items.
May 23, 2023

Dick’s Sporting Goods Sees Modest Growth, Less Foot Traffic

Dick's Sporting Goods saw a 5.3% increase in net sales in Q1.
Hellen Obiri of Kenya crosses the finish line to win the women's division at the 2023 Boston Marathon.
May 16, 2023

On Wants More Star Power, Visibility for Next Growth Phase

On is looking to grow through tennis and other verticals.
May 11, 2023

Topgolf Callaway Lowers Sales Expectations

Callaway cut its profit forecast for this year.
May 10, 2023

Endeavor Posts Record Quarter Amid UFC-WWE Merger Plans

Endeavor bought WWE in April, it also sold its IMG for $1.25B.