Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. The sportsbook service is integrated with the company's live-TV service on mobile devices. The stock has fallen more than 25% since the earnings announcement. On an adjusted basis, FuboTV lost 59 cents a share, compared with a loss of $1.08 in the year-earlier period. Indeed, Netflixs massive earnings loss has had iterative effects on the market. The Motley Fool has a disclosure policy. On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Shares of fuboTV ( FUBO 3.57%) have been on a rollercoaster since the company launched its initial public offering (IPO) in early October. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Investors have been holding their breath as analysts forecasted a second potentially detrimental quarter for one of the original streaming services. No doubt, that's impressive growth. Fubo is our other recommendation here because it has a ton of sports coverage, and all three of the above channels. Additionally, the company projects it will drop an additional 2 million customers in Q2 of this year. The Motley Fool recommends fuboTV, Inc. Making the world smarter, happier, and richer. fuboTV (FUBO 9.65%) reported third-quarter earnings on Nov. 9 that disappointed investors -- and the stock has since slumped over 25%. Duolingo Speaking Volumes: Forms Bullish Chart Ahead of Earnings, fuboTV (FUBO) Set to Announce Earnings on Friday, Fubo Announces 2023 Season Partnership With Boston Red Sox, Orioles play the Tigers leading series 2-1, How to Watch the Baltimore Orioles vs. Detroit Tigers - MLB (4/30/23) | Channel, Stream, Preview, How to watch Seattle Sea Dragons vs. D.C. Defenders: XFL Division Championships time, TV, stream, fuboTV Inc. (NYSE:FUBO) Receives $4.85 Average PT from Analysts, Great news for fuboTV Inc. (NYSE:FUBO): Insiders acquired stock in large numbers last year, Farmer Wants a Wife season 1 episode 7: How to watch for free (4/19/23), Fubo Announces Inducement Grants Under NYSE Listing Rule 303A.08, Rayo Vallecano vs Barcelona: times, how to watch on TV, stream online | LaLiga, Manchester City vs Arsenal: times, how to watch on TV, stream online | Premier League, Napoli vs. AC Milan odds, picks and predictions, Heres how the top runners from Mass. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Shares of FuboTV ( FUBO) are plunging in todays session, with FUBO stock down more than 10%. This move appears to reflect worsening sentiment around speculative growth stocks. Additionally, poor tech earnings have left a sour taste in investors mouths, with many hitting the ask today. FuboTV lost 74 cents a share on sales of $156.7 million in the third quarter. Shreys articles have featured in the likes of Morning Brew, Real Clear Markets, the Downline Podcast, and more. Shares of the pharmaceutical giant AbbVie ( ABBV 1.51%) fell by as much as 9% in early morning trading Thursday. With Fed Decision Looming, Economy and Markets Wait Google Stock Concerned About AI? 2. fuboTV's net losses are diluting shareholders. SoFis guidance raise to a range of $1.955 billion to $2.02 billion up from $1.925 billion to $2 billion was very slight. The firm raised doubts about whether the company could make a viable business out of its money-losing multichannel video service and subscale sports-betting product. But losses continue too, meaning the company may need to raise more money. It's always beneficial to see both sides of an argument about an investment. Please log in to your account or sign up in order to add this asset to your watchlist. How to watch King Charles III's coronation without going to fuboTV (FUBO) Set to Announce Earnings on Friday - MarketBeat S&P 500 4,135.35 DOW Stocks are for suckers try this instead (Ad) Stocks are for suckers try this instead (Ad) [BREAKING] New "Living Missile" to Replace Nuclear Missiles (Ad) Stocks are for suckers try this instead (Ad) Stocks are for suckers try this instead (Ad) Let's look closer at two reasons the market is concerned about fuboTV. 0.58Average Consumer Discretionary News Sentiment. Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. Seamus Power odds to win the 2023 THE PLAYERS Championship, How to watch Basketball Wives episode 18: Time, TV, free live stream, fuboTV Inc. (NYSE:FUBO) Q4 2022 Earnings Call Transcript, Steer Clear of fuboTV Until This Starts Happening, Indie Green-Themed Network EarthXTV Lands Carriage on FuboTV's Base Tier, fuboTV Adds Environmental Network EarthxTV to Base Subscription Package, Barrington Reaffirms Their Hold Rating on fuboTV (FUBO), Nexstar Exec on Why Broadcasters Balked at CBS Terms for Pact With Sports Streamer FuboTV, If You Have Not Sold fuboTV by Now, You Might as Well Hold, fuboTV Inc.'s (NYSE:FUBO) 17% loss last week hit both individual investors who own 43% as well as institutions, fuboTV (FUBO) Q4 2022 Earnings Call Transcript. Article printed from InvestorPlace Media, https://investorplace.com/2022/04/why-is-fubotv-fubo-stock-down-today/. The bulk of those costs was subscriber-related expenses (at 91.5% of revenue). analyst said the $40 stock is only worth $8. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Instead, the issues arise from fuboTV's profit margins -- or lack thereof. 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(FUBO) Is a Great 'Buy the Bottom' Stock Now, Zacks Industry Outlook Highlights Warner Bros. LightShed analysts also said that FuboTV is overpaying for sports rights. 1125 N. Charles St, Baltimore, MD 21201. After bouncing off recent lows, the stock went back down today. After spiking more Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: Sign up to receive the latest news and ratings for FUBO and its competitors with MarketBeat's FREE daily newsletter. fuboTV MarketRank Forecast Analyst Rating Hold 2.29 Rating Score Upside/ Downside 325.4% Upside $4.85 Price Target Short Interest Bearish 20.64% of "The one million subscriber milestone represents an exciting inflection point in our business, with tremendous implications for revenue growth and profitability, particularly given the continued strength of our advertising business," FuboTV Executive Chairman Edgar Bronfman Jr. said in a news release. Our company news sentiment scores track the average news sentiment of articles about each company over the most recent 7 days in order to identify companies that are receiving positive press. Make more money in stocks with 2 months of access to IBD Digital for only $20! Tesla Continues to Defy Expectations, Is it Buyable Again? That's nearly twice as much as the $72 million it lost in the same time last year. Howard Smith has no position in any of the stocks mentioned. See what's happening in the market right now with MarketBeat's real-time news feed. Making the world smarter, happier, and richer. In a report Tuesday, LightShed Partners slammed FuboTV stock. Those are heavy losses. NYSE:FUBO fuboTV - FUBO News Today $1.27 +0.10 (+8.55%) (As of 04/11/2023 03:28 PM ET) On Nov. 4, FuboTV stock flirted with a buy point of 35.19 out of an 18-week consolidation period, according to IBD MarketSmith charts. Here's Why fuboTV Inc. (FUBO) Is a Great 'Buy the Bottom' Stock Now Apr. Is United Airlines Playing a Game of Limbo with Its Guidance? All rights reserved. To make the world smarter, happier, and richer. Discovery, Fox and fuboTV, Traders Purchase Large Volume of Put Options on fuboTV (NYSE:FUBO), fuboTV Inc. (NYSE:FUBO) Receives $4.85 Consensus Price Target from Brokerages, Insider Selling: fuboTV Inc. (NYSE:FUBO) Insider Sells $87,206.04 in Stock, How to stream every out-of-market MLB game on FuboTV this season (free trial), Tyler Perrys Assisted Living season 4 episode 2: How to watch for free (3/29/23), Farmer Wants a Wife season 1 episode 4: How to watch for free (3/29/23), Play Ball! LightShed says fuboTV stock is the "most compelling short" it has discovered, and that the previous run-up in the share price was "egregious," as reported by Barron's. Why Is Everyone Talking About fuboTV Stock? For Cost basis and return based on previous market day close. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. In the most recent nine months ended Sept. 30, the company raised $389.5 million in cash by selling convertible notes. The excellent news for fuboTV is that these costs are getting smaller as a percent of revenue as the company grows. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. Copyright, Trademark and Patent Information. Unfortunately, Netflix managed to fall behind even bearish forecasts for its earnings. As of 1 p.m. Eastern, FUBO stock is down more than 10% as investors price in poor tech earnings and continued Fedspeak. Interestingly, theres little news to speak of when it comes to FuboTV today. Upgrade to MarketBeat All Access to add more stocks to your watchlist. All rights reserved. That's based on the midpoint of its outlook. Still, these are variable costs, meaning they increase with each additional subscriber, so it doesn't scale as well as fixed costs, which stay the same regardless of customer or revenue growth. For instance, a hypothetical $100 million in net profit would come to $2.26 in earnings per share at 44.2 million shares outstanding. If You Do This, You Won't Have to Worry About Them, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Motley Fool Issues Rare All In Buy Alert, Copyright, Trademark and Patent Information. MULN Stock Alert: UNC Charlotte Orders Mullen Vans, Stock Market Crash Alert: Mark Your Calendars for May 3. Sign up for free today. Learn how you can make more money with IBD's investing tools, top-performing stock lists, and educational content. This morning, Netflix reported its financial results for its fiscal Q1 2022. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. This chart compares the number of articles about this company in the last seven days compared with the average number of articles about this company on a typical week. If You Do This, You Won't Have to Worry About Them, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research. Get access to free IBD eventsonline & in-person! Ownership data provided by Refinitiv and Estimates data provided by FactSet. Indeed, expenses as a percentage of revenue were 165.5%. Analysts expected FuboTV to add 137,000 new subscribers in the third quarter for a total of 817,000 subscribers, according to FactSet. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Analysts were targeting 927,000 subscribers. Copyright Investors who have done the research and believe in the long-term story should consider the drop an opportunity. 326 E 8th St #105, Sioux Falls, SD 57103 Is the 149% Dividend for ZIM Integrated Shipping in Jeopardy? For the current quarter, FuboTV forecast revenue of $207.5 million, up 97% year over year. We track news headlines from hundreds of news outlets and tag them by company. Discovery (NASDAQ:WBD), Roku (NASDAQ:ROKU) and Disney (NYSE:DIS) are all well in the red today. With degrees in economics and journalism, Shrey Dua leverages his ample experience in media and reporting to contribute well-informed articles covering everything from financial regulation and the electric vehicle industry to the housing market and monetary policy. As of Sept. 30, it had 142.5 million shares outstanding. The New York City-based company late Tuesday said it added 262,884 subscribers in the September quarter, ending the period with 944,605 total subscribers. FuboTV stock sank more than 20% after the company posted a bigger loss than expected. SOFI stock is exemplifying that today. The Motley Fool owns shares of and recommends Walt Disney and fuboTV, Inc. As you might imagine, investors havent been kind to Netflix stock today. Subscriber-related expenses were 100% of revenue in Q3 last year and 122% two years ago. Get fuboTV News Delivered to You Automatically. FUBO News Today | Why did fuboTV stock go up today? Netflix, was, perhaps as expected, the worse casualty of its earnings call. You have already added five stocks to your watchlist. Get market updates, educational videos, webinars, and stock analysis. Fubo starts at $75 per month, though In-depth profiles and analysis for 20,000 public companies. For the quarter, fuboTV lost $106 million on the bottom line. After a 40% Drop, Analysts Remain Bullish on Impinj, Visa Charges Higher After Better-Than-Expected Q2 Report, onsemi Puts A Bottom in Chip Stocks, Heads For New Highs, Checkpoint Software Leads Cyber-Security Stocks. But that should come after they have read the other opinions and thought through all the factors making up the growth story. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. Can Earnings Recharge Electric Vehicle Stocks? Good News for Fubo Stock: Alphabet Raising Prices on YouTubeTV, Why I Refuse to Chase the Maximum Social Security Benefit, U.S. Money Supply Is Doing Something It Hasn't Done in 90 Years, and It May Signal a Big Move for Stocks, Social Security Cuts May Be Coming. Want to learn more about investing? Warner Bros. 1 Stunning Growth Stock to Buy Before It Soars 165%, According to Wall Street, 2 Beaten-Down Growth Stocks to Avoid Like the Plague in April. Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks. Even after the 35% drop, the stock has a market capitalization of almost $3 billion, giving it a current price-to-sales ratio of more than 12. quotes delayed at least 15 minutes, all others at least 20 minutes. Fubo Becomes Streaming Leader in Baseball Coverage With MLB.TV Content Partnership, Investors Purchase High Volume of fuboTV Put Options (NYSE:FUBO), FuboTV Rebrands as Fubo, Launches Ad Campaign Co-Produced by Ryan Reynolds Maximum Effort Productions Featuring Kevin Garnett and Mark Sanchez, Down -53.39% in 4 Weeks, Here's Why You Should You Buy the Dip in fuboTV Inc. (FUBO). Fubo is our other recommendation here because it has a ton of sports coverage, and all three of the above channels. However, where investors are raising concern is the cost of that growth. All rights reserved. Learn about the media coverage comparison. To sustain those losses, fuboTV is tapping capital markets and raising money. Cost basis and return based on previous market day close. Fubo is slipping as part of Netflix-induced streaming slump. But its shares pulled back from that resistance level. On the stock market today, FuboTV stock dropped 23.1% to close at 25.47. *Real-time prices by Nasdaq Last Sale. On Monday, the stock is off another 11% as of 10:05 a.m. EST, bringing its recent decline to more than 35%. American Consumer News, LLC dba MarketBeat 2010-2023. Nasdaq 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. This means that fuboTV's share count is rising. For context, despite concerns of waning demand, Wall Street still expected Netflix to experience a net gain of around 2.5 million customers. Get 30 Days of MarketBeat All Access Free, By creating a free account, you agree to our. Our daily ratings and market update email newsletter. As a result, fuboTV had $398.5 million in cash at the end of its third quarter. Note that with more shares outstanding, a company's profits are split more broadly. Export data to Excel for your own analysis. According to analysts' consensus price target of $4.85, fuboTV has a forecasted upside of 325.4% from its current price of $1.14. fuboTV has only been the subject of 3 research reports in the past 90 days. fuboTV, Inc. operates as a sports-first, live TV streaming company. View which stocks are hot on social media with MarketBeat's trending stocks report. JPMorgan Rescues First Republic. Invest better with The Motley Fool. Wall Street had predicted a loss of 61 cents a share on revenue of $143.5 million, FactSet said. GDC Stock Alert: Why Is GD Culture Group Up 700% Today? Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Investors who already purchased fubo stock, or those who are looking into it after the recent drop, should read the short report. The drop gained momentum late last week after an analyst said the $40 stock is only worth $8. WebFUBO fuboTV Inc 62,776 Watch Buy $1.14 $0.05 (4.59%) Today $1.15 0.01 (0.88%) After Hours Market Cap $239.05M Volume (M) 9.97M 52-Wk High $8.14 52-Wk Low $0.96 Reasonably so, as Netflix has consistently enjoyed user gains of 25 million subscribers per year. 5 Hypergrowth Stocks With 10X Potential in 2023, Even if Block Beats on Earnings, Stay Away From SQ Stock, Louis Navellier and the InvestorPlace Research Staff, Rare Stock Indicators Show the Market Is About to Skyrocket, Ideanomics (IDEX) Stock Surges 90% Ahead of Possible Delisting. Under the Inflation Reduction Act, the Centers for Medicare and Medicaid Services will begin negotiating the prices of the most expensive medicines the agency buys. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Learn More. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Realtime quote and/or trade prices are not sourced from all markets. In fact, streaming services are down across the board today as investors express fear over a potential streaming service slump. Bank Failures Widen. ET on Zacks.com fuboTV Inc. (FUBO) Loses -33.93% in 4 Weeks, Simply Wall St. Great news for fuboTV Inc. (NYSE:FUBO): Insiders NFLX stock is down nearly 40% this morning as investors consider the implications of a reversal of streaming service popularity. What happened Shares of fuboTV ( FUBO -3.97%) dropped more than 10% Monday, but The company had slightly more than 300,000 subscribers in 2019, but it was up to 455,000 paid subscribers as of the quarter ended Sept. 30, representing a 58% gain over the prior-year period. contact@marketbeat.com *Average returns of all recommendations since inception. The Motley Fool has a disclosure policy. During the regular session Tuesday, FuboTV stock slipped 1.6% to close at 33.13. Among those leading the decline is FuboTV (NYSE:FUBO), sinking on news that the streaming platform was The firm issuing the short call is LightShed Partners, led by Richard Greenfield. There is little direct news related to Fubo this morning, so the companys drop is likely attributable to Netflixs recent report. Get daily stock ideas from top-performing Wall Street analysts. However, one of todays biggest movers to the Yet again, thats set to come in below analysts revenue estimate of $88.29 million for the period. The information and content are subject to change without notice. Netflix reported losing 200,000 customers in the first quarter, marking the first time the company reported a net loss since 2011. 2023 InvestorPlace Media, LLC. On the positive side, fuboTV saw revenue jump 156% to $157 million in the latest quarter over the year-ago period. Learn More. Additionally, it has raised $71.8 million by selling shares of its stock to the public. The live streaming platform FuboTV (NYSE:FUBO) is suffering losses today seemingly as a reaction to Netflixs (NASDAQ:NFLX) recent earnings report. Sentiment refers to the positivity or negativity of each headline according to our language processing algorithm. Its another down day for the stock market, with most major indices losing around 1% as of early afternoon trading. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. 6, 2023 at 9:55 a.m. The business itself is showing strong growth. Can Fubo TV Survive Its Most Recent Slump? Each headline receives a score ranging from 2 (good news) to -2 (bad news). Image source: Getty Images. That's up from 44.2 million at the same time last year. Get these newsletters delivered to your inbox & more info about our products & services. On Nov. 3, FuboTV launched Fubo Sportsbook, an online betting service, in the U.S., starting with Iowa. In the most recent nine months fuboTV's stock crashed after the company posted impressive revenue growth in Q3. To sustain those losses, fuboTV is tapping capital markets and raising money. Shares of fuboTV ( FUBO 4.59%) were falling today after the sports-focused streaming service issued disappointing guidance in its fourth-quarter *Average returns of all recommendations since inception. With fuboTV's losses continuing, investors are perhaps foreseeing that the company might need to sell yet more shares to sustain this level of growth. Privacy Policy & Terms of Use. In other news, FuboTV announced a deal to buy Molotov, France's leading live-TV streaming platform, for about $190 million. 1 Stunning Growth Stock to Buy Before It Soars 165%, According to Wall Street, 2 Beaten-Down Growth Stocks to Avoid Like the Plague in April. The same net profit would come to just $0.70 per share with 142.5 million shares outstanding.