Sports-focused virtual pay TV provider FuboTV says advertising
revenue continues to be flat year-over-year due to marketplace pressures.
FuboTV delivered $22.5 million in advertising revenues in its first-quarter earnings results for North America.
A year earlier, the total was $23.2 million.
Overall revenue from subscription and other business grew 34% to $316.5 million, with subscribers rising 22% to 1.3 million during its
first-quarter earnings results. Monthly average revenue per subscriber for North America was up 8% to $76.79.
This was good news for investors, with FuboTV
stock up 34% in early morning Friday trading.
The company now says it will see subscriber totals reaching between 1.55 million and 1.57 million -- up 8%
year-over-year.Total yearly revenue is expected to rise 27% to between $1.24 billion and $1.27 billion.
At the same time, it has been able to cut its net losses from
continuing operations to $83.4 million -- from $128.4 million in the year-ago period.
Fubo says its “rest of the world” streaming business grew 24% to 379,000, with
revenue climbing 41% to $7.8 million.advertisement
advertisement