FuboTV Inc. shares plummeted nearly 6% in pre-market trading on Friday, as the company's weaker-than-expected guidance for the first quarter of 2025 overshadowed its better-than-anticipated fourth-quarter 2024 earnings.
For Q4 2024, the sports-focused live TV streaming platform reported revenue of $443.3 million, up 8% year-over-year, although it narrowly missed analysts' estimates of $445.8 million. However, FuboTV's adjusted loss per share of $0.02 beat expectations of a $0.13 loss. Subscription revenue climbed nearly 10%, driven by a 6% increase in subscribers.
Looking ahead to Q1 2025, FuboTV projected revenue growth of just 3% year-over-year for its North American business, along with a 4% decline in subscribers. This disappointed investors, who were likely expecting stronger guidance after the company's Q4 top-line growth and subscriber additions. FuboTV's outlook for its smaller international business was also lackluster, with projected revenue and subscriber declines.