Although sports-focused virtual pay TV provider FuboTV continues to post strong business and financial gains -- according to the company’s recently released guidance -- its stock price is falling.
The company's Monday morning stock price was down 6% to $13.14.
Year-over-year, the company’s stock has been steadily dropping. In February 2021, fuboTV stock was at $52.40.
In recent guidance, the company says it expects to more than double revenue for all of 2021 to between $622 million and $627 million -- an increase of 138%-140% year-over-year -- versus 2020’s total of $268.8 million.
In addition, the company says it will now exceed 1.1 million subscribers -- double the total of a year ago.
Advertising revenue is also sharply higher -- now with an annual run rate of $100 million, based on its projection of $25 million in ad revenue for the fourth quarter of 2021.
A year ago, fuboTV 2020’s advertising revenues were $29 million.
The virtual pay TV provider continues to thrive in a competitive space. Hulu + Live TV is at 4 million subscribers, while YouTube TV is at 4 million and Sling TV is at 3 million.
In its third-quarter 2021 period, fuboTV trimmed its net loss from $274.1 million in the third quarter of 2020 to $105.9 million -- a greater loss than analysts expected.