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fuboTV (FUBO) to Report Q4 Earnings: What's in the Cards?
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fuboTV Inc. (FUBO - Free Report) is set to report fourth-quarter 2020 results on Mar 2.
On Jan 5, 2021 the company revised its fourth-quarter revenue expectations. It now expects revenues to be in the range of $94-$98 million, indicating growth of 77% to 84% on a year-over-year basis. This is above the previously guided expectation of $80-85 million.
The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $97.2 million.
The consensus mark for loss has narrowed 20.9% over the past 30 days to 53 cents per share.
The company’s earnings beat the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 22.6%.
Let’s see how things have shaped up prior to this announcement.
The company expects growth of advertising on streaming platform along with strong attachment rates on value-added services, such as cloud DVR storage, and the ability to stream on multiple devices to drive top-line growth in the to-be reported quarter.
Investor focus will be on paid subscriber growth, which is an important metric for fuboTV. The popularity of its sports-first live TV streaming platform is expected to have aided paid subscriber growth in the fourth quarter of 2020.
The company revised total paid subscriber guidance at the end of fourth quarter to exceed 545K, an increase of over 72% year over year. The prior guidance was 500K-510K paid subscribers.
The ability to stream a broad mix of over 100 live channels, including 42 of the top 50 Nielsen-ranked networks across sports, news and entertainment among others has been a huge attraction for subscribers.
The company streams 90% of nationwide NFL games with the majority of the country receiving all games (airing on ESPN/ABC, CBS, FOX, NBC and NFL Network, plus live look-ins of national and regional action on NFL RedZone) and has strong coverage of other nationally televised leagues: 100% of NHL (NBC, NBCSN, NHL Network), 88% of MLB (ESPN, Fox/FS1, MLB Network) and nearly 70% of NBA (ESPN/ABC, NBA TV).
Markedly, fuboTV is the only virtual multichannel video programming distributor (vMVPD) streaming in 4K, including 11 Thursday Night Football games this season and the recent 2020 World Series from FOX. fuboTV also has more regional sports networks in its base package than any other live TV streaming platform.
Additionally, streaming hours growth is expected to have boosted TV streaming advertising on fuboTV’s platform.
In third-quarter 2020, total content hours streamed by fuboTV users (paid and free trial) increased 83% year over year to 133.3 million hours. Moreover, monthly active users (MAUs) watched 121 hours per month on average in the quarter, an increase of 20% year over year.
Moreover, fuboTV is expected to have benefited from advertising spend reallocation toward TV streaming as marketers accelerate their shift out of traditional TV and into TV streaming.
Key Developments in Q4
During the quarter, fuboTV acquired Balto Sports, marking the company’s first move into the online sports wagering market. fuboTV intends to leverage its own proprietary technology along with Balto’s contest automation software to launch a free-to-play gaming offering.
Additionally, fuboTV officially launched on Hisense Smart TVs with the VIDAA Smart operating system, giving consumers instant access to live sports and entertainment through one click on the Hisense remote control.
What Our Model Says
According to the Zacks model, the combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
fuboTV has an Earnings ESP of +41.88% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks That Warrant a Look
Here are a few more companies, which, per our model, have the right combination of elements to post an earnings beat in their upcoming release.
Ballard Power Systems, Inc. (BLDP - Free Report) has an Earnings ESP of +22.22% and carries a Zacks Rank of 3, currently.
Playa Hotels & Resorts N.V. (PLYA - Free Report) has an Earnings ESP of +3.23% and carries a Zacks Rank of 3, currently.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.9% per year.
These 7 were selected because of their superior potential for immediate breakout.
Image: Bigstock
fuboTV (FUBO) to Report Q4 Earnings: What's in the Cards?
fuboTV Inc. (FUBO - Free Report) is set to report fourth-quarter 2020 results on Mar 2.
On Jan 5, 2021 the company revised its fourth-quarter revenue expectations. It now expects revenues to be in the range of $94-$98 million, indicating growth of 77% to 84% on a year-over-year basis. This is above the previously guided expectation of $80-85 million.
The Zacks Consensus Estimate for fourth-quarter revenues is pegged at $97.2 million.
The consensus mark for loss has narrowed 20.9% over the past 30 days to 53 cents per share.
The company’s earnings beat the Zacks Consensus Estimate in the trailing four quarters, the average surprise being 22.6%.
Let’s see how things have shaped up prior to this announcement.
fuboTV Inc. Price and EPS Surprise
fuboTV Inc. price-eps-surprise | fuboTV Inc. Quote
Factors to Consider
The company expects growth of advertising on streaming platform along with strong attachment rates on value-added services, such as cloud DVR storage, and the ability to stream on multiple devices to drive top-line growth in the to-be reported quarter.
Investor focus will be on paid subscriber growth, which is an important metric for fuboTV. The popularity of its sports-first live TV streaming platform is expected to have aided paid subscriber growth in the fourth quarter of 2020.
The company revised total paid subscriber guidance at the end of fourth quarter to exceed 545K, an increase of over 72% year over year. The prior guidance was 500K-510K paid subscribers.
The ability to stream a broad mix of over 100 live channels, including 42 of the top 50 Nielsen-ranked networks across sports, news and entertainment among others has been a huge attraction for subscribers.
The company streams 90% of nationwide NFL games with the majority of the country receiving all games (airing on ESPN/ABC, CBS, FOX, NBC and NFL Network, plus live look-ins of national and regional action on NFL RedZone) and has strong coverage of other nationally televised leagues: 100% of NHL (NBC, NBCSN, NHL Network), 88% of MLB (ESPN, Fox/FS1, MLB Network) and nearly 70% of NBA (ESPN/ABC, NBA TV).
Markedly, fuboTV is the only virtual multichannel video programming distributor (vMVPD) streaming in 4K, including 11 Thursday Night Football games this season and the recent 2020 World Series from FOX. fuboTV also has more regional sports networks in its base package than any other live TV streaming platform.
Additionally, streaming hours growth is expected to have boosted TV streaming advertising on fuboTV’s platform.
In third-quarter 2020, total content hours streamed by fuboTV users (paid and free trial) increased 83% year over year to 133.3 million hours. Moreover, monthly active users (MAUs) watched 121 hours per month on average in the quarter, an increase of 20% year over year.
Moreover, fuboTV is expected to have benefited from advertising spend reallocation toward TV streaming as marketers accelerate their shift out of traditional TV and into TV streaming.
Key Developments in Q4
During the quarter, fuboTV acquired Balto Sports, marking the company’s first move into the online sports wagering market. fuboTV intends to leverage its own proprietary technology along with Balto’s contest automation software to launch a free-to-play gaming offering.
Additionally, fuboTV officially launched on Hisense Smart TVs with the VIDAA Smart operating system, giving consumers instant access to live sports and entertainment through one click on the Hisense remote control.
What Our Model Says
According to the Zacks model, the combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
fuboTV has an Earnings ESP of +41.88% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks That Warrant a Look
Here are a few more companies, which, per our model, have the right combination of elements to post an earnings beat in their upcoming release.
Vail Resorts, Inc. (MTN - Free Report) has an Earnings ESP of +12.44% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Ballard Power Systems, Inc. (BLDP - Free Report) has an Earnings ESP of +22.22% and carries a Zacks Rank of 3, currently.
Playa Hotels & Resorts N.V. (PLYA - Free Report) has an Earnings ESP of +3.23% and carries a Zacks Rank of 3, currently.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.9% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>