fuboTV (NYSE:FUBO) stock gained more than 12% this afternoon on optimism ahead of its upcoming earnings call.
So, what do you need to know about fuboTV today?
Well, ahead of the company’s May 5 first-quarter earnings report, investors have clearly expressed interest in fuboTV. That is likely because of its previous guidance.
Specifically, the company forecast it would bring in revenue between $232 million and $237 million in North America. The rest of the world it expects to contribute between $3 million and $6 million. The current Zacks consensus estimate calls for revenue of $238.42 million, up nearly 100% from 2021.
Additionally, analysts and investors are looking to hear about growth in streaming hours. Q4 saw year-over-year growth of 96%, and it seems Wall Street is expecting a continuation of that trend for Q1.
FuboTV, best known for its live sports streaming service, has seen its share price plunge nearly 90% over the past six months. Shares currently trade hands for just over $4.
Now, with earnings approaching, it seems some on Wall Street think fuboTV can turn things around.
FUBO Stock Jumps on Promising Earnings Report
In addition to strong revenue growth, many analysts expect fuboTV to report subscriber growth. The company added roughly 185,000 subscribers in the fourth quarter.
This expectation makes sense, given the company’s rapid expansion so far this year. In the first quarter, fuboTV added customizable multi-stream viewing options. The company also announced a number of new content options heading to the fuboTV platform in coming months.
Lastly, as per an announcement this quarter, fuboTV will be Canada’s exclusive home to England’s highest-level soccer league, the Premier League, for the next three seasons.
Clearly investors have reason to be bullish on the streaming service. Whether the company will deliver on its sky-high earnings expectations remains to be seen.
On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
