FuboTV stock jumps after much narrower loss than expected and revenue beat

Shares of FuboTV Inc.
FUBO,
+0.43%
jumped 3.9% in premarket trading Monday, after the live TV streaming platform reported a much narrower-than-expected loss and revenue that rose above forecasts, as the company surpassed $1 billion in revenue for the year for the first time. Net losses widened to $141.1 million, or 76 cents a share, from $111.8 million, or 76 cents a share, in the year-ago period, while shares outstanding increased to about 200.1 million from 148.1 million. Excluding nonrecurring items, the adjusted per-share losses narrowed to 39 cents from 50 cents and beat the FactSet loss consensus of 71 cents. Revenue grew 38.2% to $319.3 million, above the FactSet consensus of $285.6 million, while full-year revenue of $1.01 billion was up 58.0% from 2021. The company ended 2022 with a record 1.445 million subscribers in North America, and 420,000 subscribers outside of North America. The company expects first-quarter revenue of $295 million to $300 million in North America (NA) and $5.5 million to $6.5 million in the rest of the world (ROW), and NA subscribers of 1,140 to 1,160 and ROW subscribers of 368 to 373. The stock has dropped 14.1% over the past three months through Friday, while the S&P 500
SPX,
-1.05%
has slipped 1.4%.