Loading...
•
Sep 30, 2020
fuboTV Q3 2020 Earnings Report
fuboTV announced Q3 2020 results, delivering the strongest quarter in company history and exceeding raised guidance with solid growth in revenue, subscription and engagement.
Key Takeaways
fuboTV's Q3 was the strongest in its history, with subscription revenue growing 64% year-over-year, ad revenue growing 153% year-over-year, and ending the quarter with 455,000 paid subscribers. The company exceeded targets in key metrics due to a heavy sports calendar, busy news cycle, and Hollywood’s fall entertainment season. The outlook for Q4 is also solid.
Subscription revenue grew 64% year-over-year.
Advertising revenue grew 153% year-over-year.
Ended the quarter with an all-time high of 455,000 paid subscribers.
fuboTV intends to expand into the online sports wagering market.
Forward Guidance
fuboTV raised Q4 guidance and expects revenues to be $80-85 million, a 51% to 60% increase year-over-year. They also expect to end the fourth quarter with 500,000-510,000 paid subscribers, an increase of 58% to 62% year-over-year. Full year 2020 revenue is expected to be $244-248 million, an increase of over 65% year-over-year. Full year 2021 revenue is expected to be $415-435 million, an increase of over 70% year-over-year.
Positive Outlook
- Q4 revenues are expected to be $80-85 million, a 51% to 60% increase year-over-year.
- Expect to end the fourth quarter with 500,000-510,000 paid subscribers, an increase of 58% to 62% year-over-year.
- Full year 2020 revenue is expected to be $244-248 million, an increase of over 65% year-over-year.
- Full year 2021 revenue is expected to be $415-435 million, an increase of over 70% year-over-year.
- Sports have returned despite the ongoing pandemic driving increased subscriber growth, viewership and ad revenue.
Challenges Ahead
- Risks related to the ability to realize the anticipated benefits of the merger.
- Risks related to the combined entity’s access to capital and fundraising prospects to fund its ongoing operations and its ability to continue as a “going concern”.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...