Indeed, FUBO stock is down more than 7% this morning as investors digest a worse-than-expected earnings call from Netflix. Shares of fuboTV ( FUBO 4.59%) were falling today after the sports-focused streaming service issued disappointing guidance in its fourth-quarter Bank Failures Widen. Netflix, was, perhaps as expected, the worse casualty of its earnings call. Revenue and subscribership saw rapid growth in the latest quarter. 1 Stunning Growth Stock to Buy Before It Soars 165%, According to Wall Street, 2 Beaten-Down Growth Stocks to Avoid Like the Plague in April. Its another down day for the stock market, with most major indices losing around 1% as of early afternoon trading. Nvidia Touts Metaverse Avatars, Simulation Technologies, Roblox Stock Rockets After Game Firm Reports Strong Third Quarter, Best Growth Stocks To Buy And Watch: See Updates To IBD Stock Lists, Find Winning Stocks With MarketSmith Pattern Recognition & Custom Screens, See Stocks On The List Of Leaders Near A Buy Point. FuboTV lost 74 cents a share on sales of $156.7 million in the third quarter. Reasonably so, as Netflix has consistently enjoyed user gains of 25 million subscribers per year. fuboTV Inc (FUBO) Stock Price Today, News, Quotes, Why Is Everyone Talking About fuboTV Stock? The information and content are subject to change without notice. After spiking more than 400%, the stock has been tumbling the last several trading sessions. Making the world smarter, happier, and richer. Still, these are variable costs, meaning they increase with each additional subscriber, so it doesn't scale as well as fixed costs, which stay the same regardless of customer or revenue growth. fuboTV's stock crashed after the company posted impressive revenue growth in Q3. FuboTV (FUBO) shares tumbled Wednesday even though the sports-focused streaming video service smashed analyst estimates for new subscribers in the third quarter. LightShed analysts also said that FuboTV is overpaying for sports rights. The firm issuing the short call is LightShed Partners, led by Richard Greenfield. In other news, FuboTV announced a deal to buy Molotov, France's leading live-TV streaming platform, for about $190 million. Investors who have done the research and believe in the long-term story should consider the drop an opportunity. For context, despite concerns of waning demand, Wall Street still expected Netflix to experience a net gain of around 2.5 million customers. ET on Zacks.com fuboTV Inc. (FUBO) Loses -33.93% in 4 Weeks, All rights reserved. With degrees in economics and journalism, Shrey Dua leverages his ample experience in media and reporting to contribute well-informed articles covering everything from financial regulation and the electric vehicle industry to the housing market and monetary policy. Among those leading the decline is FuboTV (NYSE:FUBO), sinking on news that the streaming platform was FuboTV down? Current problems and outages | Downdetector Export data to Excel for your own analysis. View which stocks are hot on social media with MarketBeat's trending stocks report. Get market updates, educational videos, webinars, and stock analysis. *Average returns of all recommendations since inception. Good News for Fubo Stock: Alphabet Raising Prices on YouTubeTV, Why I Refuse to Chase the Maximum Social Security Benefit, U.S. Money Supply Is Doing Something It Hasn't Done in 90 Years, and It May Signal a Big Move for Stocks, Social Security Cuts May Be Coming. Image source: Getty Images. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Is United Airlines Playing a Game of Limbo with Its Guidance? As a result, fuboTV had $398.5 million in cash at the end of its third quarter. The drop gained momentum late last week after an analyst said the $40 stock is only worth $8. (844) 978-6257. The sports streaming substitute for cable TV is gaining traction with consumers, but that's not the problem for investors. With fuboTV's losses continuing, investors are perhaps foreseeing that the company might need to sell yet more shares to sustain this level of growth. 6, 2023 at 9:55 a.m. However, where investors are raising concern is the cost of that growth. Get 30 Days of MarketBeat All Access Free, By creating a free account, you agree to our. Those are heavy losses. Why fuboTV Stock Dropped Today | The Motley Fool Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. For the current quarter, FuboTV forecast revenue of $207.5 million, up 97% year over year. 2023 InvestorPlace Media, LLC. With Fed Decision Looming, Economy and Markets Wait Google Stock Concerned About AI? Simply Wall St. Great news for fuboTV Inc. (NYSE:FUBO): Insiders Discovery, Fox and fuboTV, Traders Purchase Large Volume of Put Options on fuboTV (NYSE:FUBO), fuboTV Inc. (NYSE:FUBO) Receives $4.85 Consensus Price Target from Brokerages, Insider Selling: fuboTV Inc. (NYSE:FUBO) Insider Sells $87,206.04 in Stock, How to stream every out-of-market MLB game on FuboTV this season (free trial), Tyler Perrys Assisted Living season 4 episode 2: How to watch for free (3/29/23), Farmer Wants a Wife season 1 episode 4: How to watch for free (3/29/23), Play Ball! If You Do This, You Won't Have to Worry About Them, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Motley Fool Issues Rare All In Buy Alert, Copyright, Trademark and Patent Information. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. All rights reserved. Analysts expected FuboTV to add 137,000 new subscribers in the third quarter for a total of 817,000 subscribers, according to FactSet. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. The sportsbook service is integrated with the company's live-TV service on mobile devices. Let's look closer at two reasons the market is concerned about fuboTV. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Ownership data provided by Refinitiv and Estimates data provided by FactSet. But the sharp share price increase has also driven the valuation to lofty levels. Should You Be Too? During the regular session Tuesday, FuboTV stock slipped 1.6% to close at 33.13. (SecondSide/stock.adobe.com). Additionally, it has raised $71.8 million by selling shares of its stock to the public. Wall Street had predicted sales of $179.6 million in the fourth quarter, FactSet said. analyst said the $40 stock is only worth $8. GDC Stock Alert: Why Is GD Culture Group Up 700% Today? However, one of todays biggest movers to the Fubo is best known for its live TV offerings, including sports, news and entertainment. Can Fubo TV Survive Its Most Recent Slump? Seamus Power odds to win the 2023 THE PLAYERS Championship, How to watch Basketball Wives episode 18: Time, TV, free live stream, fuboTV Inc. (NYSE:FUBO) Q4 2022 Earnings Call Transcript, Steer Clear of fuboTV Until This Starts Happening, Indie Green-Themed Network EarthXTV Lands Carriage on FuboTV's Base Tier, fuboTV Adds Environmental Network EarthxTV to Base Subscription Package, Barrington Reaffirms Their Hold Rating on fuboTV (FUBO), Nexstar Exec on Why Broadcasters Balked at CBS Terms for Pact With Sports Streamer FuboTV, If You Have Not Sold fuboTV by Now, You Might as Well Hold, fuboTV Inc.'s (NYSE:FUBO) 17% loss last week hit both individual investors who own 43% as well as institutions, fuboTV (FUBO) Q4 2022 Earnings Call Transcript. contact@marketbeat.com Under the Inflation Reduction Act, the Centers for Medicare and Medicaid Services will begin negotiating the prices of the most expensive medicines the agency buys. Netflix reported losing 200,000 customers in the first quarter, marking the first time the company reported a net loss since 2011. Why FuboTV investors have yet to realize that "the emperor has no clothes," the report said. The Motley Fool recommends fuboTV, Inc. Shares of fuboTV (FUBO 9.65%) have been on a rollercoaster since the company launched its initial public offering (IPO) in early October. Why Is FuboTV (FUBO) Stock Down Today? TradingView News Fubo is our other recommendation here because it has a ton of sports coverage, and all three of the above channels. The live streaming platform FuboTV (NYSE: FUBO) is suffering losses today seemingly as a reaction to Netflixs (NASDAQ: NFLX) recent earnings report. For the quarter, fuboTV lost $106 million on the bottom line. See what's happening in the market right now with MarketBeat's real-time news feed. NFLX stock is down nearly 40% this morning as investors consider the implications of a reversal of streaming service popularity. FUBO FUBO Stock Price | fuboTV Inc. Stock Quote (U.S.: 326 E 8th St #105, Sioux Falls, SD 57103 Instead, the issues arise from fuboTV's profit margins -- or lack thereof. In the most recent nine months On the positive side, fuboTV saw revenue jump 156% to $157 million in the latest quarter over the year-ago period. But its shares pulled back from that resistance level. fuboTV MarketRank Forecast Analyst Rating Hold 2.29 Rating Score Upside/ Downside 325.4% Upside $4.85 Price Target Short Interest Bearish 20.64% of After a 40% Drop, Analysts Remain Bullish on Impinj, Visa Charges Higher After Better-Than-Expected Q2 Report, onsemi Puts A Bottom in Chip Stocks, Heads For New Highs, Checkpoint Software Leads Cyber-Security Stocks. 2023 NFL Draft live stream: How to watch night 2 online, time On Nov. 3, FuboTV launched Fubo Sportsbook, an online betting service, in the U.S., starting with Iowa. How to watch King Charles III's coronation without going to That's what makes a market, after all. There is little direct news related to Fubo this morning, so the companys drop is likely attributable to Netflixs recent report. JPMorgan Rescues First Republic. Learn how to trade stocks like a pro with just 3 email lessons! The company had slightly more than 300,000 subscribers in 2019, but it was up to 455,000 paid subscribers as of the quarter ended Sept. 30, representing a 58% gain over the prior-year period. That's nearly twice as much as the $72 million it lost in the same time last year. 2000-2023 Investor's Business Daily, LLC. For instance, a hypothetical $100 million in net profit would come to $2.26 in earnings per share at 44.2 million shares outstanding. Parkev Tatevosian owns shares of Walt Disney. Cost basis and return based on previous market day close. Making the world smarter, happier, and richer. But that should come after they have read the other opinions and thought through all the factors making up the growth story. Please log in to your account or sign up in order to add this asset to your watchlist. Tesla Continues to Defy Expectations, Is it Buyable Again? Netflixs massive earnings loss has had iterative effects on the market. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. But losses continue too, meaning the company may need to raise more money. Get access to free IBD eventsonline & in-person! On Nov. 4, FuboTV stock flirted with a buy point of 35.19 out of an 18-week consolidation period, according to IBD MarketSmith charts. Investors have been holding their breath as analysts forecasted a second potentially detrimental quarter for one of the original streaming services. Copyright, Trademark and Patent Information. Can Earnings Recharge Electric Vehicle Stocks? Shares of FuboTV ( FUBO) are plunging in todays session, with FUBO stock down more than 10%. This move appears to reflect worsening sentiment around speculative growth stocks. Additionally, poor tech earnings have left a sour taste in investors mouths, with many hitting the ask today. Learn how you can make more money with IBD's investing tools, top-performing stock lists, and educational content. On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. Why fuboTV Is Down Again Today | The Motley Fool On an adjusted basis, FuboTV lost 59 cents a share, compared with a loss of $1.08 in the year-earlier period. This means that fuboTV's share count is rising. It's losing money at a rapid rate and keeps raising capital that is diluting shareholders. Get daily stock ideas from top-performing Wall Street analysts. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. 0.58Average Consumer Discretionary News Sentiment. Additionally, the company projects it will drop an additional 2 million customers in Q2 of this year. Investors who already purchased fubo stock, or those who are looking into it after the recent drop, should read the short report. Fubo is slipping as part of Netflix-induced streaming slump. 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