FuboTV shares soar 9% on earnings beat, robust growth

), a leading sports-first live TV streaming platform, reported a narrower-than-expected loss for the first quarter, sending its shares up 9% in response to the earnings beat.

The company's North American operations saw significant year-over-year growth, with a 24% increase in total revenue and an 18% rise in paid subscribers. FuboTV's ad revenue in the region also grew by 21% compared to the same quarter last year. The average revenue per user in North America was up 10% YoY, reaching $84.54.

David Gandler, co-founder and CEO of FuboTV, expressed confidence in the company's trajectory, stating, "Our results further underscore continued solid execution on our long-term strategy." He also emphasized the company's commitment to providing consumers with choice and fair pricing in a competitive streaming marketplace, referencing the ongoing antitrust lawsuit against the proposed sports streaming joint venture by major media companies.

FuboTV's balance sheet remains robust, ending the quarter with $175 million in cash, cash equivalents, and restricted cash. The company believes it has sufficient liquidity to fund its operations and reach its 2025 profitability goal, barring any potential impact from the joint venture's launch.

Switzerland Neuesten Nachrichten, Switzerland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Spain Has 11% Plugin Vehicle Share — New Monthly Market Share ReportClean Tech News & Views: EVs, Solar Energy, Batteries
Herkunft: cleantechnica - 🏆 565. / 51 Weiterlesen »

Plugin EVs Take 91.5% Share in Norway's Auto MarketMarch’s auto market in Norway saw plugin EVs taking a 91.5% share, up from 91.1% compared to the previous year. Battery electric vehicles (BEVs) alone accounted for almost 90% of the market share. The increase in plugin EVs is attributed to a policy change that came into effect on January 1, which aimed to encourage buyers to choose BEVs over plug-in hybrid electric vehicles (PHEVs). PHEV sales experienced a surge in December 2023, reaching a 16% share, but since January, their share has decreased to 2% in Q1 2024. On the other hand, BEV share has increased from 83% in 2023 to 90.2% in Q1 2024. Although PHEV share is expected to recover slightly in the coming months, it will not reach previous levels due to the policy's focus on promoting BEVs. Overall, the auto market in Norway has seen a decline in volumes for most powertrains, with PHEVs being the most affected, falling to 25% of their year-on-year volume.
Herkunft: cleantechnica - 🏆 565. / 51 Weiterlesen »