fuboTV Inc. (FUBO) shares surged 12.08% in after-hours on Tuesday, August 10, 2021, and closed the daily trading at $32.10. In the regular trading session of Tuesday, FUBO’s stock gained 2.54%. FUBO shares have risen 186.40% over the last 12 months, and they have moved up 10.20% in the past week. Over the past three months, the stock has gained 62.08%, while over the past six months, it has declined 38.74%.
Let’s have a look at its recent news and developments.
FUBO latest financial results announcement
On August 10, 2021, fuboTV Inc. (FUBO) announced its financial results for the second quarter ended June 30, 2021.
Q2 2021 financial highlights
- FUBO total revenue grew 196% to $130.9 million in Q2 2021 compared to $44.2 million in Q2 2020.
- Total operating expenses were $211.9 million inQ2 2021 compared to $111.5 million in Q2 2020.
- It suffered a net loss of $94.9 million inQ2 2021 compared to $73.6 million in Q2 2020.
- Earnings per share (EPS) in the second quarter of 2021 was a loss of $0.68, compared to a loss of $2.08 in the second quarter of 2020.
- Adjusted EBITDA was negative $47.4 million in Q2 2021 compared to -$41.9 million in Q2 2020.
Revised Financial outlook
- For Q3 2021, FUBO is expecting revenue in the range of $140-$144 million.
- For FY 2021, FUBO is expecting revenue in the range of $560-$570 million.
FUBO participation in the upcoming investor conferences
fuboTV Inc will participate in the Oppenheimer 24th Annual Technology, Internet & Communications Conference on August 11, 2021. The company will take part in a Virtual Fireside Chat at p.m. ET.
The company will also participate at KeyBanc Technology Leadership Forum on August 12, 2021, and at BMO Technology Summit on August 25, 2021.
David Gandler Co-founder and CEO and Simone Nardi, CFO of fuboTV will present and host one-on-one investor meetings during all three events.
New appointments
On July 19, 2021, fuboTV Inc. (FUBO) appointed Alison Sternberg to the newly-created role of senior vice president, investor relations. Sternberg joins fuboTV effective immediately and reports to David Gandler, co-founder and CEO.
FUBO Market Access Agreement in Pennsylvania
On July 15, 2021, Fubo Gaming which is a subsidiary of leading sports-first live TV streaming platform fuboTV Inc and The Cordish Companies announced the completion of a market access agreement for the forthcoming mobile Fubo Sportsbook in Pennsylvania. Fubo Gaming’s agreement with The Cordish Companies, owner and operator of Live! Casino & Hotel Philadelphia and Live! Casino Pittsburgh provides state-wide mobile access for both sports betting and iGaming. The launch of Fubo Sportsbook in Pennsylvania is subject to obtaining required regulatory approvals.
Conclusion
The stock surged on Tuesday after the company announced its much improved financial results. we can expect it to continue its surge in the coming days as well.
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