Ahead of Fubos May 5 earnings call it seems investors are preparing for near universal subscriber drops. That's nearly twice as much as the $72 million it lost in the same time last year. Could Government Drug-Price Negotiations Sound The Death Knell For Biotech Stocks? Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. On an adjusted basis, FuboTV lost 59 cents a share, compared with a loss of $1.08 in the year-earlier period. In the most recent nine months ended Sept. 30, the company raised $389.5 million in cash by selling convertible notes. Revenue and subscribership saw rapid growth in the latest quarter. Why Is Everyone Talking About fuboTV Stock? In other news, FuboTV announced a deal to buy Molotov, France's leading live-TV streaming platform, for about $190 million. Privacy Policy & Terms of Use. Notably, the stock was actually up in pre-market trading as it beat estimates in its fourth-quarter earnings report, but the other updates spoiled those gains. As of 1:32 p.m. ET, the stock was down 11.9%. fuboTV got a lift in the fourth quarter from the FIFA World Cup as revenue jumped 38% to $319.3 million, which beat estimates at $285.6 million. For The Motley Fool recommends fuboTV, Inc. The excellent news for fuboTV is that these costs are getting smaller as a percent of revenue as the company grows. Fubo is our other recommendation here because it has a ton of sports coverage, and all three of the above channels. 0.58Average Consumer Discretionary News Sentiment. Even after the 35% drop, the stock has a market capitalization of almost $3 billion, giving it a current price-to-sales ratio of more than 12. Get fuboTV News Delivered to You Automatically. 6, 2023 at 9:55 a.m. MULN Stock Alert: UNC Charlotte Orders Mullen Vans, Stock Market Crash Alert: Mark Your Calendars for May 3. GDC Stock Alert: Why Is GD Culture Group Up 700% Today? Bank Failures Widen. quotes delayed at least 15 minutes, all others at least 20 minutes. fuboTV's stock crashed after the company posted impressive revenue growth in Q3. Shares of FuboTV ( FUBO) are plunging in todays session, with FUBO stock down more than 10%. This move appears to reflect worsening sentiment around speculative growth stocks. Additionally, poor tech earnings have left a sour taste in investors mouths, with many hitting the ask today. Copyright, Trademark and Patent Information. 5 Hypergrowth Stocks With 10X Potential in 2023, Even if Block Beats on Earnings, Stay Away From SQ Stock, Louis Navellier and the InvestorPlace Research Staff, Rare Stock Indicators Show the Market Is About to Skyrocket, Ideanomics (IDEX) Stock Surges 90% Ahead of Possible Delisting. With fuboTV's losses continuing, investors are perhaps foreseeing that the company might need to sell yet more shares to sustain this level of growth. 1 Stunning Growth Stock to Buy Before It Soars 165%, According to Wall Street, 2 Beaten-Down Growth Stocks to Avoid Like the Plague in April. The costs are adding up, and in the nine months ended Sept. 30, fuboTV lost $143 million in cash from operations. Instead, the issues arise from fuboTV's profit margins -- or lack thereof. The drop gained momentum late last week after an analyst said the $40 stock is only worth $8. 2000-2023 Investor's Business Daily, LLC. Sign up for free today. Get access to free IBD eventsonline & in-person! Simply Wall St. Great news for fuboTV Inc. (NYSE:FUBO): Insiders Netflix, was, perhaps as expected, the worse casualty of its earnings call. Good News for Fubo Stock: Alphabet Raising Prices on YouTubeTV, Why I Refuse to Chase the Maximum Social Security Benefit, U.S. Money Supply Is Doing Something It Hasn't Done in 90 Years, and It May Signal a Big Move for Stocks, Social Security Cuts May Be Coming. Realtime quote and/or trade prices are not sourced from all markets. If You Do This, You Won't Have to Worry About Them, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Motley Fool Issues Rare All In Buy Alert, Copyright, Trademark and Patent Information. All rights reserved. Learn More. As you might imagine, investors havent been kind to Netflix stock today. Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks. We track news headlines from hundreds of news outlets and tag them by company. FuboTV (FUBO) shares tumbled Wednesday even though the sports-focused streaming video service smashed analyst estimates for new subscribers in the third quarter. Get 30 Days of MarketBeat All Access Free, By creating a free account, you agree to our. But that should come after they have read the other opinions and thought through all the factors making up the growth story. The company had slightly more than 300,000 subscribers in 2019, but it was up to 455,000 paid subscribers as of the quarter ended Sept. 30, representing a 58% gain over the prior-year period. *Average returns of all recommendations since inception. View which stocks are hot on social media with MarketBeat's trending stocks report. analyst said the $40 stock is only worth $8. Shares of fuboTV ( FUBO 4.59%) were falling today after the sports-focused streaming service issued disappointing guidance in its fourth-quarter American Consumer News, LLC dba MarketBeat 2010-2023. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Warner Bros. On Monday, the stock is off another 11% as of 10:05 a.m. EST, bringing its recent decline to more than 35%. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Unfortunately, Netflix managed to fall behind even bearish forecasts for its earnings. The live streaming platform FuboTV (NYSE: FUBO) is suffering losses today seemingly as a reaction to Netflixs (NASDAQ: NFLX) recent earnings report. Analysts expected FuboTV to add 137,000 new subscribers in the third quarter for a total of 817,000 subscribers, according to FactSet. On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. Is the 149% Dividend for ZIM Integrated Shipping in Jeopardy? TRENDING: Amazon Leads 5 Stocks Near Buy Points Post-Earnings. 1125 N. Charles St, Baltimore, MD 21201. Indeed, expenses as a percentage of revenue were 165.5%. Identify stocks that meet your criteria using seven unique stock screeners. Netflix reported losing 200,000 customers in the first quarter, marking the first time the company reported a net loss since 2011. Additionally, the company projects it will drop an additional 2 million customers in Q2 of this year. On Nov. 4, FuboTV stock flirted with a buy point of 35.19 out of an 18-week consolidation period, according to IBD MarketSmith charts. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Those are heavy losses. Want to learn more about investing? Amazon Leads 5 Stocks Near Buy Points Post-Earnings, Fubotv Earns Relative Strength Rating Upgrade, Fubotv Hits 80-Plus Relative Strength Rating Benchmark, Stock Upgrades: Fubotv Shows Rising Relative Strength, Fubotv Shows Improved Relative Strength; Still Shy Of Benchmark, Sports-Centric Live TV Streamer FuboTV Scores Big Second-Quarter Beat, Dow Jones Futures: $1.2 Trillion Infrastructure Bill Lifts Dow, S&P 500 To Highs As Micron Hits Growth; IPOs Upstart, FuboTV Are Big Earnings Movers. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Should You Be Too? Cost basis and return based on previous market day close. The information and content are subject to change without notice. fuboTV (FUBO 9.65%) reported third-quarter earnings on Nov. 9 that disappointed investors -- and the stock has since slumped over 25%. Analysts were targeting 927,000 subscribers. FuboTV expects to end the year with 1.06 million to 1.07 million subscribers. Good News for Fubo Stock: Alphabet Raising Prices on YouTubeTV, Why I Refuse to Chase the Maximum Social Security Benefit, U.S. Money Supply Is Doing Something It Hasn't Done in 90 Years, and It May Signal a Big Move for Stocks, Social Security Cuts May Be Coming. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Sentiment refers to the positivity or negativity of each headline according to our language processing algorithm. Real-time analyst ratings, insider transactions, earnings data, and more. Its another down day for the stock market, with most major indices losing around 1% as of early afternoon trading. Ownership data provided by Refinitiv and Estimates data provided by FactSet. However, one of todays biggest movers to the Making the world smarter, happier, and richer. Investors have been holding their breath as analysts forecasted a second potentially detrimental quarter for one of the original streaming services. How to watch King Charles III's coronation without going to Is United Airlines Playing a Game of Limbo with Its Guidance? Indeed, On the positive side, fuboTV saw revenue jump 156% to $157 million in the latest quarter over the year-ago period. There is little direct news related to Fubo this morning, so the companys drop is likely attributable to Netflixs recent report. *Average returns of all recommendations since inception. Shares of fuboTV ( FUBO 3.57%) have been on a rollercoaster since the company launched its initial public offering (IPO) in early October. During the regular session Tuesday, FuboTV stock slipped 1.6% to close at 33.13. On the stock market today, FuboTV stock dropped 23.1% to close at 25.47. The firm issuing the short call is LightShed Partners, led by Richard Greenfield. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Fubo is best known for its live TV offerings, including sports, news and entertainment. In fact, streaming services are down across the board today as investors express fear over a potential streaming service slump. For instance, a hypothetical $100 million in net profit would come to $2.26 in earnings per share at 44.2 million shares outstanding. NFLX stock is down nearly 40% this morning as investors consider the implications of a reversal of streaming service popularity. (844) 978-6257. Can Fubo TV Survive Its Most Recent Slump? Learn More. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. The end game for FuboTV executives likely is to "sell the company before everyone realizes how bad the underlying financial story actually is," LightShed analysts said. It's always beneficial to see both sides of an argument about an investment. But losses continue too, meaning the company may need to raise more money. After bouncing off recent lows, the stock went back down today. The stock has fallen more than 25% since the earnings announcement. ET on Zacks.com fuboTV Inc. (FUBO) Loses -33.93% in 4 Weeks, The business itself is showing strong growth. Reasonably so, as Netflix has consistently enjoyed user gains of 25 million subscribers per year. Copyright Investors who already purchased fubo stock, or those who are looking into it after the recent drop, should read the short report. SOFI stock is exemplifying that today. Shares of fuboTV (FUBO 9.65%) have been on a rollercoaster since the company launched its initial public offering (IPO) in early October. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. So despite fuboTV's impressive revenue growth, the market seems to believe that a positive and growing bottom line remains key. To make the world smarter, happier, and richer. Fubo is slipping as part of Netflix-induced streaming slump. Making the world smarter, happier, and richer. Nasdaq However, where investors are raising concern is the cost of that growth. See what's happening in the market right now with MarketBeat's real-time news feed. Learn how you can make more money with IBD's investing tools, top-performing stock lists, and educational content. After spiking more Wall Street had predicted a loss of 61 cents a share on revenue of $143.5 million, FactSet said. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Let's look closer at two reasons the market is concerned about fuboTV. For context, despite concerns of waning demand, Wall Street still expected Netflix to experience a net gain of around 2.5 million customers. After spiking more than 400%, the stock has been tumbling the last several trading sessions. Asian shares are trading mostly lower as worries about the health of global economies grew after a tumble on Wall Street, despite some better-than-expected During the regular session Tuesday, FuboTV stock slipped 1.6% to close at 33.13. Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: Sign up to receive the latest news and ratings for FUBO and its competitors with MarketBeat's FREE daily newsletter. The firm raised doubts about whether the company could make a viable business out of its money-losing multichannel video service and subscale sports-betting product. contact@marketbeat.com Additionally, it has raised $71.8 million by selling shares of its stock to the public. Shreys articles have featured in the likes of Morning Brew, Real Clear Markets, the Downline Podcast, and more. Netflixs massive earnings loss has had iterative effects on the market. "The one million subscriber milestone represents an exciting inflection point in our business, with tremendous implications for revenue growth and profitability, particularly given the continued strength of our advertising business," FuboTV Executive Chairman Edgar Bronfman Jr. said in a news release. Nvidia Touts Metaverse Avatars, Simulation Technologies, Roblox Stock Rockets After Game Firm Reports Strong Third Quarter, Best Growth Stocks To Buy And Watch: See Updates To IBD Stock Lists, Find Winning Stocks With MarketSmith Pattern Recognition & Custom Screens, See Stocks On The List Of Leaders Near A Buy Point. That's what makes a market, after all. This morning, Netflix reported its financial results for its fiscal Q1 2022. Parkev Tatevosian owns shares of Walt Disney. Invest better with The Motley Fool. Fubo starts at $75 per month, though (SecondSide/stock.adobe.com). FuboTV lost 74 cents a share on sales of $156.7 million in the third quarter. All rights reserved. Article printed from InvestorPlace Media, https://investorplace.com/2022/04/why-is-fubotv-fubo-stock-down-today/. 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With degrees in economics and journalism, Shrey Dua leverages his ample experience in media and reporting to contribute well-informed articles covering everything from financial regulation and the electric vehicle industry to the housing market and monetary policy. This means that fuboTV's share count is rising. Discovery, Fox and fuboTV, Traders Purchase Large Volume of Put Options on fuboTV (NYSE:FUBO), fuboTV Inc. (NYSE:FUBO) Receives $4.85 Consensus Price Target from Brokerages, Insider Selling: fuboTV Inc. (NYSE:FUBO) Insider Sells $87,206.04 in Stock, How to stream every out-of-market MLB game on FuboTV this season (free trial), Tyler Perrys Assisted Living season 4 episode 2: How to watch for free (3/29/23), Farmer Wants a Wife season 1 episode 4: How to watch for free (3/29/23), Play Ball! Tesla Continues to Defy Expectations, Is it Buyable Again? No doubt, that's impressive growth. Our daily ratings and market update email newsletter. If You Do This, You Won't Have to Worry About Them, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Each headline receives a score ranging from 2 (good news) to -2 (bad news). The Motley Fool has a disclosure policy. For the current quarter, FuboTV forecast revenue of $207.5 million, up 97% year over year.
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