FuboTV says it passed 1 million paid subscribers

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Shares of FuboTV Inc. FUBO, -1.60% were initially down 3% in extended trading Tuesday after the streaming service reported fiscal third-quarter results. FuboTV reported a net loss of $105.9 million, or 74 cents a share, compared with a net loss of $274.1 million, or $6.20 a share, in the year-ago quarter. Adjusting for one-time items, the company announced a net loss of $81.3 million, or 59 cents a share. Revenue shot up 156% to $156.7 million from $61.2 million a year ago. The company also disclosed it recently passed 1 million paid subscribers. Analysts surveyed by FactSet had expected a net loss of 61 cents a share on revenue of $143.5 million. FuboTV stock is up 19% so far in 2021, while the broader S&P 500 index SPX, -0.35% has gained 25% this year.

This article was originally published by Marketwatch.com. Read the original article here.

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