By Sabela Ojea
Shares of fuboTV on Friday fell after the company's fourth-quarter topline performance and outlook missed Wall Street expectations amid views for a decline in subscribers.
The stock was down 14%, to $3.03, in midday Friday trading. Shares have more than doubled since the beginning of the year.
The sports-focused live-TV streaming platform ended the fourth quarter with total revenue of $443.3 million, below the $445.8 million expected by Wall Street, according to FactSet.
The company ended the period with 1.7 million paid subscribers, up 4% from the same period a year earlier.
For the first quarter, the company expects revenue growth of 4% at the midpoint, between $400 million and $410 million, below the $624.7 million forecast by Wall Street.
FuboTV said its outlook factors in the potential effects to subscribers of its recent contract non-renewal with TelevisaUnivision that followed a pricing dispute. It expects to end the first quarter with around 1.4 million to 1.5 million total subscribers, representing a 4% decline at the midpoint.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
February 28, 2025 14:13 ET (19:13 GMT)
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