FuboTV Stock Is Crashing Today. Here's Why.
It's becoming increasingly clear that streaming alternatives to conventional cable TV are facing the same marketability problems.
The case for holding a stake in streaming television company FuboTV (NYSE: FUBO) continues to deteriorate. Shares are down to the tune of 11.3% as of 11:40 a.m. ET following this morning's release of the company's fiscal first-quarter results, which -- at best -- sent a mixed message regarding the cable-TV alternative's foreseeable future.
The top line was healthy enough. Companywide revenue grew 3.5% to $416.3 million, slightly topping estimates. And, though FuboTV remains in the red, the per-share loss of $0.02 was a marked improvement on the year-ago quarterly loss of $0.14 per share as well as better than analysts' expected loss for the three-month stretch ending in March.
There are red flags, though.
