Why FuboTV's Stock Is Trading Higher Today

fuboTV Inc. FUBO shares are trading higher after the company reported better-than-expected second-quarter sales results, total paid subscribers up 138% year over year and advertising revenue up 281% year over year. The company also raised FY21 subscribers guidance.

The company reported second-quarter sales results of $130.90 million which beat the $118.88 million estimate.

Fubo raised its full-year sales guidance from a range of $520 million - $530 million to $560 million - $570 million verse the $531.7 million estimate and issued third-quarter sales guidance in the range of $140 million - $144 million verse the $126.9 million estimate.

The company also raised its full-year 2021 subscriber guidance from a range of 830,000-850,000 to 910,000-920,000.

"Engagement also reached record highs as we added exclusive sports streaming rights with CONMEBOL and began beta testing predictive, free-to-play gaming integrated into our streaming platform ahead of our expected launch this fall. Our Fubo Sportsbook with real-money wagering remains on track for a fourth quarter launch as we intend to further combine interactivity with streaming video," said David Gandler, co-founder and CEO, fuboTV.

The stock was trading about 10% higher at $31.51 per share on Tuesday at the time of publication. The stock has a 52-week high of $62.29 and a 52-week low of $8.26.