Why FuboTV Stock Plummeted Today
FuboTV's stock plummeted 15.9% after the company reported a fiscal Q2 sales miss and subscriber decline. The company's loss per share was $0.07 on sales of $1.57 billion, with revenue up 0.6% year over year.
FuboTV (NYSE: FUBO) stock fell 15.9% on Wednesday after the company released its fiscal Q2 report. The streaming specialist recorded a loss per share of $0.07 on sales of $1.57 billion, missing Wall Street's targeted level. Revenue was up 0.6% year over year, but subscriber numbers declined to 5.7 million in North America from 5.9 million in the same quarter last year. FuboTV reiterated its previously issued guidance, expecting non-GAAP EBITDA between $80 million and $100 million for the fiscal year. The company also expects to be free-cash-flow positive in the next two fiscal years and aims for adjusted EBITDA of at least $300 million in the 2028 fiscal year.
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