FuboTV Shares Rise 20% After Company Releases 2Q Results

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By Stephen Nakrosis

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Shares of streaming platform FuboTV Inc. were trading higher in Thursday’s after-hours market, following the release of second-quarter financial results which showed the company’s North American streaming business delivering double-digit year-over-year total revenue growth.

At 6:19 pm ET, the company’s shares were trading 20.54% higher at $3.59 a share. Volume in the after-hours session topped 3.5 million shares. The stock finished the day’s regular session with a 1.71% gain, closing at $2.97 a share.

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After the bell, the company reported a second-quarter loss per share of 68 cents on revenue of $221.89 million. In the year-ago period, the company reported a loss per share of 68 cents on revenue of $130.8 million.

FuboTV also said Rest-of-World streaming ended the quarter with about 347,000 total paid subscribers and $5.8 million in total revenue.

The company added, “we continue to believe that an integrated wagering platform, offering both live video and a sportsbook, will result in the best viewing and gaming experience for consumers.” FuboTV decided to no longer pursue the opportunity on its own, and put the interactive wagering business under strategic review, it said.

Write to Stephen Nakrosis at [email protected]

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Credit: www.marketwatch.com /

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