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fuboTV (FUBO) to Report Q3 Earnings: What's in the Offing?

fuboTV's (FUBO) third-quarter results are expected to reflect strength across sports streaming offerings and solid online sports wagering momentum.

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This story originally appeared on Zacks

fuboTV Inc. FUBO is set to report third-quarter 2021 results on Nov 9.

The company expects revenues of $140-$144 million for the third quarter, indicating growth of 132% at the mid-point on a year-over-year basis.

The Zacks Consensus Estimate for third-quarter revenues is pegged at $143.5 million, indicating a year-over-year increase of 134.5%.

The consensus mark for loss has been unchanged at 65 cents per share over the past 30 days. Notably, the company reported a loss of $1.65 per share in the year-ago quarter.

Let’s see how things have shaped up prior to this announcement.

- Zacks

fuboTV Inc. Price and EPS Surprise

 

fuboTV Inc. Price and EPS Surprise

fuboTV Inc. price-eps-surprise | fuboTV Inc. Quote

Factors to Consider

fuboTV’s strengthening sports streaming offerings are expected to have continued driving its top-line growth in the to-be-reported quarter.

In the third quarter, it entered a distribution agreement with ROOT SPORTS to stream the latter’s extensive coverage of Northwest professional sports. The move added strength to fuboTV’s sports content offerings, the impacts of which, in turn, are expected to get reflected in the upcoming results.

Further, fuboTV inked a deal with VIZIO, which is likely to have bolstered its subscriber base in the quarter under review. Per the deal, fuboTV has been made available on VIZIO SmartCast in order to provide access to the former’s sports streaming channels to the SmartCast users via the fuboTV subscription.

In addition to these, the company’s strengthening position in online sports wagering is likely to have aided its third-quarter performance.

fuboTV received approval from the Iowa Racing and Gaming Commission (IRGC) to offer advance deposit online sports wagering in Iowa.

The company’s Fubo Gaming received a Management Services Provider Certification from the Arizona Department of Gaming to offer mobile event wagering in Arizona.

Apart from these, rising advertising demand on the streaming platform along with the ability to stream on multiple devices is expected to have aided top-line growth in the to-be-reported quarter.

The solid momentum of fuboTV’s sports-first live TV streaming platform is expected to have aided paid subscriber growth in the third quarter.

Additionally, the company acquired exclusive rights for Coppa Italia and exclusive English language rights for Serie A in Canada in the quarter under review. The impacts of this are expected to get reflected in the third-quarter results of the company.

What Our Model Says

Our proven model does not conclusively predict an earnings beat for fuboTV this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

fuboTV has an Earnings ESP of 0.00% and a Zacks Rank #3.

Stocks to Consider

Here are some stocks that you may consider, as our model shows that these have the right combination of elements to beat on earnings this season.

BellRing Brands BRBR has an Earnings ESP of +14.11% and a Zacks Rank of 2 at present.

Central Garden & Pet CENT currently has an Earnings ESP of +22.22% and a Zacks Rank of 2.

Diana Shipping DSX has an Earnings ESP of +5.88% and a Zacks Rank of 2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.



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