Fubo offers a sports-focused streaming service, and hopes to launch a sportsbook offering later this year that will combine gambling options with the live events it airs.
FuboTV Inc. easily surpassed expectations for sales growth in the second quarter and executives increased their forecast, calling for full-year revenue to more than double, sending shares more than 10% higher in after-hours trading Tuesday.
Analysts on average expected adjusted losses of 49 cents a share on revenue of $121.4 million, according to FactSet, after the company forecast sales of $120 million to $122 million. Shares soared more than 10% higher in the extended session, after closing with a 2.5% gain at $28.64. For the third quarter, executives expect subscribers to top 800,000, guiding for 810,000 to 820,000 at the end of the period, leading to quarterly revenue of $140 million to $144 million. Analysts on average were expecting third-quarter revenue of $128.5 million, according to FactSet.
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