Live sports and TV streaming service fuboTV (NYSE: FUBO) will be reporting earnings this Wednesday before market open. Here’s what you need to know.
fuboTV beat analysts’ revenue expectations last quarter, reporting revenues of $1.55 billion, up 40% year on year. It was a slower quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EPS estimates. It reported 6.2 million domestic subscribers, up 270% year on year.
Is fuboTV a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting fuboTV’s revenue to grow 40.2% year on year, improving from the 4.6% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. fuboTV has a history of exceeding Wall Street’s expectations.
Looking at fuboTV’s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Rush Street Interactive delivered year-on-year revenue growth of 41.1%, beating analysts’ expectations by 11.3%, and Monarch reported revenues up 8.9%, topping estimates by 5.2%. Rush Street Interactive traded up 16.6% following the results while Monarch was also up 15.9%.
Read our full analysis of Rush Street Interactive’s results here and Monarch’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 4.4% on average over the last month. fuboTV is up 4.6% during the same time and is heading into earnings with an average analyst price target of $18.13 (compared to the current share price of $12.65).
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