bundle purveyor reported better-than-expected revenue and subscriber gains in the first quarter.
Fubo stock has been the subject of fierce debate among analysts and retail investors, with the latter helping to cause a runup in shares late last year. The company has seen its shares fall more than 60% from that peak, though recent trading days in the high-teens to around $20 have put it well above the $10 level of its IPO in October 2020.
“This quarter represents an inflection point for our business as we acquired less seasonally driven subscribers and more permanent cord-cutters, enticed by our differentiated content lineup and product experience,” CEO David Gandler and executive chairman Edgar Bronfman Jr. wrote in their quarterly letter to shareholders.
Based on the subscriber projection, full-year net additions will be at least 282,000, which is 22% above net additions in 2020.pay-TV