FuboTV Inc (NYSE:FUBO) is trading higher Tuesday. The company raised its preliminary fourth-quarter revenue guidance on Monday.
The company expects its fourth-quarter revenue to be between $215 million and $220 million, representing an increase of 105% to 109% year-over-year. The previously listed guidance was called for fourth-quarter revenue of $205 million to $210 million.
FuboTV said paid subscribers are expected to exceed 1,100,000 in 2021, representing an increase of more than 100% year-over-year.
The company also said subscriber acquisition cost is expected to be at the low end of the company’s target range of 1 to 1.5 times monthly average revenue per user.
"FuboTV’s strong preliminary fourth-quarter 2021 results close out a pivotal year where we made meaningful advancements against our mission to define a new category of interactive sports and entertainment television,” said David Gandler, co-founder and CEO of fuboTV.
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FuboTV is a sports-first, live TV streaming company, offering subscribers access to tens of thousands of live sporting events annually, as well as news and entertainment content.
FUBO Price Action: FuboTV has traded as low as $12.79 and as high as $57.47 over a 52-week period.
The stock was up 11.7% at $15.15 at time of publication.
Photo: courtesy of FuboTV.
