FuboTV Boosts Revenue Projections. But the Stock Is Falling.

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FuboTV raised its fourth-quarter revenue guidance on Monday, saying it expects revenue of $215 million to $220 million, compared with previous estimates.

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The streaming platform said revenue in the period will grow 105% to 109% from a year ago and will come in above previous estimates of $205 million to $210 million.

Analysts tracked by FactSet expect fourth-quarter revenue of $211.6 million.

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Revenue expectations for the full year were also raised to a range of $622 million to $627 million, exceeding the prior guidance of $612 million to $617 million.

Shares of FuboTV (ticker: FUBO) were down 7.3% on Monday at $12.95.

The result marks a significant year for the video-services company in which it has made meaningful progress defining a new category of interactive sports and entertainment television, FuboTV CEO David Gandler said in a statement.

The company acquired Paris-based live TV streaming platform Molotov in December.

“While still early, our progress continues to reinforce our belief that the synergies of the combined companies will provide us with the operating leverage to build a scalable global platform with minimal incremental expense,” Gandler said.

Shares of FuboTV have fallen nearly 49% in the past year.

Write to Karishma Vanjani at [email protected]

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