FuboTV Inc. shares FUBO,
The streaming company widened its loss to $140.8 million, or a loss of 89 cents a share, for the quarter ended March 31, compared with a loss of $70.2 million, or a loss of 59 cents a share, in the year-ago period. Adjusted losses were 69 cents a share, above analysts’ expectations of 50 cents a share.
Revenue rose to $242 million from $119.7 million. Analysts polled by FactSet had expected $243 million.
The company guided for second-quarter revenue between $220 million and $225 million in its North America segment, and revenue between $5 million and $6 million in its rest-of-world segment.
Executives at the company in a letter to shareholders detailing the first-quarter results said fuboTV experienced some pressure on adjusted contribution margin due to slower ad sales growth than it had initially expected.
