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FuboTV Q1 revenue beats estimates

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Yahoo Finance's Jared Blikre joined Yahoo Finance Live to break down fubtoTV's first-quarter earnings report.

Video Transcript

ADAM SHAPIRO: When we talk about earnings, we're going to talk about FuboTV. And Jared, on a roll, the connected TV space. What are they telling us?

JARED BLIKRE: Well, the stock is rolling higher here. It's up about 10% in afterhours trading, thanks to a massive beat on the top line. And let's get to the numbers here. For the first quarter, revenue coming in at $119.7 million. Estimate was for lower at $103.6 million. Subscription revenue, breaking this down here, subscription revenue was $107.1 million. Advertising was $12.6 million.

And they did have an adjusted EBITDA loss of $46 and 1/2 million. The estimate was for a little bit lower, but nevertheless, shareholders, I think, liking the guidance here. They did up their annual, at least their guidance, in terms of quarterly paid subscribers for the current quarter. The second quarter expecting 603,000. And then for the full year, they are expecting 840,000.

In their earnings report, here's a quote. FuboTV'S first quarter was an inflection point in our business and set us up for what we expect to be a stellar 2021. And on that note, I just want to look at the stock here. Here's a chart of FuboTV stock. And you're going to notice it's been very volatile.

Let's take a look, actually, at the last year. And we saw this huge spike up in December. It got caught up in GameStop and Reddit, that phenomenon. And it's off considerably from those highs. So we'll have to see if the turnaround in stock price amounts from here, but so far, so good. Investors seem to be liking the numbers as they are presented.