Sign up for free today. Netflix reported losing 200,000 customers in the first quarter, marking the first time the company reported a net loss since 2011. Analysts were targeting 927,000 subscribers. SoFis guidance raise to a range of $1.955 billion to $2.02 billion up from $1.925 billion to $2 billion was very slight. 1125 N. Charles St, Baltimore, MD 21201. 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. This chart compares the number of articles about this company in the last seven days compared with the average number of articles about this company on a typical week. Note that with more shares outstanding, a company's profits are split more broadly. The firm issuing the short call is LightShed Partners, led by Richard Greenfield. 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. That's up from 44.2 million at the same time last year. analyst said the $40 stock is only worth $8. *Average returns of all recommendations since inception. Authors may own the stocks they discuss. Tesla Continues to Defy Expectations, Is it Buyable Again? Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Fubo is our other recommendation here because it has a ton of sports coverage, and all three of the above channels. 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. American Consumer News, LLC dba MarketBeat 2010-2023. Unfortunately, Netflix managed to fall behind even bearish forecasts for its earnings. To make the world smarter, happier, and richer. 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. On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. 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. 326 E 8th St #105, Sioux Falls, SD 57103 Making the world smarter, happier, and richer. Here's Why fuboTV Inc. (FUBO) Is a Great 'Buy the Bottom' Stock Now Apr. See what's happening in the market right now with MarketBeat's real-time news feed. On Nov. 3, FuboTV launched Fubo Sportsbook, an online betting service, in the U.S., starting with Iowa. Copyright, Trademark and Patent Information. With each new subscriber, fuboTV needs to pay media companies like Disney. The business itself is showing strong growth. Cost basis and return based on previous market day close. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. JPMorgan Rescues First Republic. Learn about the media coverage comparison. There is little direct news related to Fubo this morning, so the companys drop is likely attributable to Netflixs recent report. Copyright To see all exchange delays and terms of use please see Barchart's disclaimer. *Real-time prices by Nasdaq Last Sale. 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. Our company news sentiment scores track the average news sentiment of articles about each company over the most recent 7 days in order to identify companies that are receiving positive press. 0.58Average Consumer Discretionary News Sentiment. The excellent news for fuboTV is that these costs are getting smaller as a percent of revenue as the company grows. So despite fuboTV's impressive revenue growth, the market seems to believe that a positive and growing bottom line remains key. (844) 978-6257. As of 1 p.m. Eastern, FUBO stock is down more than 10% as investors price in poor tech earnings and continued Fedspeak. Interestingly, theres little news to speak of when it comes to FuboTV today. In a report Tuesday, LightShed Partners slammed FuboTV stock. Making the world smarter, happier, and richer. Export data to Excel for your own analysis. Invest better with The Motley Fool. The end game for FuboTV executives likely is to "sell the company before everyone realizes how bad the underlying financial story actually is," LightShed analysts said. However, where investors are raising concern is the cost of that growth. The same net profit would come to just $0.70 per share with 142.5 million shares outstanding. quotes delayed at least 15 minutes, all others at least 20 minutes. 2000-2023 Investor's Business Daily, LLC. On the positive side, fuboTV saw revenue jump 156% to $157 million in the latest quarter over the year-ago period. Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks. Howard Smith has no position in any of the stocks mentioned. Each headline receives a score ranging from 2 (good news) to -2 (bad news). With Fed Decision Looming, Economy and Markets Wait Google Stock Concerned About AI? Simply Wall St. Great news for fuboTV Inc. (NYSE:FUBO): Insiders However, some stocks are down worse than others. Investors who already purchased fubo stock, or those who are looking into it after the recent drop, should read the short report. Get access to free IBD eventsonline & in-person! Shares of fuboTV ( FUBO 4.59%) were falling today after the sports-focused streaming service issued disappointing guidance in its fourth-quarter Additionally, the company projects it will drop an additional 2 million customers in Q2 of this year. According to analysts' consensus price target of $4.85, fuboTV has a forecasted upside of 325.4% from its current price of $1.14. fuboTV has only been the subject of 3 research reports in the past 90 days. fuboTV, Inc. operates as a sports-first, live TV streaming company. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. No doubt, that's impressive growth. For context, despite concerns of waning demand, Wall Street still expected Netflix to experience a net gain of around 2.5 million customers. That's based on the midpoint of its outlook. 2. fuboTV's net losses are diluting shareholders. FuboTV expects to end the year with 1.06 million to 1.07 million subscribers. This means that fuboTV's share count is rising. Want to learn more about investing? Learn how to trade stocks like a pro with just 3 email lessons! Real-time analyst ratings, insider transactions, earnings data, and more. Wall Street had predicted a loss of 61 cents a share on revenue of $143.5 million, FactSet said. Even after the 35% drop, the stock has a market capitalization of almost $3 billion, giving it a current price-to-sales ratio of more than 12. ET on Zacks.com fuboTV Inc. (FUBO) Loses -33.93% in 4 Weeks, To make the world smarter, happier, and richer. Get these newsletters delivered to your inbox & more info about our products & services. Shares of fuboTV (FUBO 9.65%) have been on a rollercoaster since the company launched its initial public offering (IPO) in early October. Shares of the pharmaceutical giant AbbVie ( ABBV 1.51%) fell by as much as 9% in early morning trading Thursday. Realtime quote and/or trade prices are not sourced from all markets. Can Earnings Recharge Electric Vehicle Stocks? Yet again, thats set to come in below analysts revenue estimate of $88.29 million for the period. All rights reserved. The Motley Fool has a disclosure policy. Analysts expected FuboTV to add 137,000 new subscribers in the third quarter for a total of 817,000 subscribers, according to FactSet. FuboTV outages reported in the last 24 hours This chart shows a view of problem reports submitted in the past 24 hours compared to the typical volume of The Motley Fool recommends fuboTV, Inc. Indeed, expenses as a percentage of revenue were 165.5%. But losses continue too, meaning the company may need to raise more money. 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. contact@marketbeat.com In other news, FuboTV announced a deal to buy Molotov, France's leading live-TV streaming platform, for about $190 million. For instance, a hypothetical $100 million in net profit would come to $2.26 in earnings per share at 44.2 million shares outstanding. All rights reserved. Cost basis and return based on previous market day close. Asian shares are trading mostly lower as worries about the health of global economies grew after a tumble on Wall Street, despite some better-than-expected Notably, the stock was actually up in pre-market trading as it beat estimates in its fourth-quarter earnings report, but the other updates spoiled those gains. As of 1:32 p.m. ET, the stock was down 11.9%. fuboTV got a lift in the fourth quarter from the FIFA World Cup as revenue jumped 38% to $319.3 million, which beat estimates at $285.6 million. Our daily ratings and market update email newsletter. The Motley Fool owns shares of and recommends Walt Disney and fuboTV, Inc. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Article printed from InvestorPlace Media, https://investorplace.com/2022/04/why-is-fubotv-fubo-stock-down-today/. To sustain those losses, fuboTV is tapping capital markets and raising money. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio. Make more money in stocks with 2 months of access to IBD Digital for only $20! The live streaming platform FuboTV (NYSE:FUBO) is suffering losses today seemingly as a reaction to Netflixs (NASDAQ:NFLX) recent earnings report. Why Is Everyone Talking About fuboTV Stock? On the stock market today, FuboTV stock dropped 23.1% to close at 25.47. Why Is Everyone Talking About fuboTV Stock? GDC Stock Alert: Why Is GD Culture Group Up 700% Today? The sportsbook service is integrated with the company's live-TV service on mobile devices. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. 6, 2023 at 9:55 a.m. But the sharp share price increase has also driven the valuation to lofty levels. As a result, fuboTV had $398.5 million in cash at the end of its third quarter. Shares of fuboTV ( FUBO 3.57%) have been on a rollercoaster since the company launched its initial public offering (IPO) in early October. Can Fubo TV Survive Its Most Recent Slump? Learn More. That's what makes a market, after all. 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. What happened. LightShed analysts also said that FuboTV is overpaying for sports rights. The New York City-based company late Tuesday said it added 262,884 subscribers in the September quarter, ending the period with 944,605 total subscribers. Investors who have done the research and believe in the long-term story should consider the drop an opportunity. Those are heavy losses. Investors have been holding their breath as analysts forecasted a second potentially detrimental quarter for one of the original streaming services. To sustain those losses, fuboTV is tapping capital markets and raising money. After the quarter ended, FuboTV crossed the milestone of 1 million subscribers. Parkev Tatevosian owns shares of Walt Disney. *Average returns of all recommendations since inception. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. 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. Subscriber-related expenses were 100% of revenue in Q3 last year and 122% two years ago. Among those leading the decline is FuboTV (NYSE:FUBO), sinking on news that the streaming platform was After bouncing off recent lows, the stock went back down today. On the stock market today, FuboTV stock dropped 23.1% to close at 25.47. The sports streaming substitute for cable TV is gaining traction with consumers, but that's not the problem for investors. In the most recent nine months Sentiment refers to the positivity or negativity of each headline according to our language processing algorithm. Privacy Policy & Terms of Use. NYSE:FUBO fuboTV - FUBO News Today $1.27 +0.10 (+8.55%) (As of 04/11/2023 03:28 PM ET) Revenue and subscribership saw rapid growth in the latest quarter. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines. WebFUBO fuboTV Inc 62,776 Watch Buy $1.14 $0.05 (4.59%) Today $1.15 0.01 (0.88%) After Hours Market Cap $239.05M Volume (M) 9.97M 52-Wk High $8.14 52-Wk Low $0.96 However, one of todays biggest movers to the FuboTV (FUBO) shares tumbled Wednesday even though the sports-focused streaming video service smashed analyst estimates for new subscribers in the third quarter. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. For the quarter, fuboTV lost $106 million on the bottom line. During the regular session Tuesday, FuboTV stock slipped 1.6% to close at 33.13. FuboTV investors have yet to realize that "the emperor has no clothes," the report said. Do Analysts' Price Targets Make Domino's Pizza Stock Look Tasty? Its another down day for the stock market, with most major indices losing around 1% as of early afternoon trading. fuboTV's stock crashed after the company posted impressive revenue growth in Q3. We track news headlines from hundreds of news outlets and tag them by company. FuboTV lost 74 cents a share on sales of $156.7 million in the third quarter. The bulk of those costs was subscriber-related expenses (at 91.5% of revenue). It's losing money at a rapid rate and keeps raising capital that is diluting shareholders. All rights reserved. fuboTV (FUBO 9.65%) reported third-quarter earnings on Nov. 9 that disappointed investors -- and the stock has since slumped over 25%. SOFI stock is exemplifying that today. The stock has fallen more than 25% since the earnings announcement. Is United Airlines Playing a Game of Limbo with Its Guidance? View which stocks are hot on social media with MarketBeat's trending stocks report. Ahead of Fubos May 5 earnings call it seems investors are preparing for near universal subscriber drops. 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!