Why FuboTV Shares Are Trading Lower After Hours

FuboTV Inc FUBO shares are trading lower in Thursday's after-hours session after the company reported financial results.

FuboTV said first-quarter North American revenue increased 98% year-over-year to $236.7 million. Streaming revenue from the rest of the world totaled $5.5 million. Combined first-quarter streaming revenue reached $242.2 million.

The company's advertising revenue increased 81% year-over-year to $22.8 million. FuboTV said North American subscribers grew 81% year-over-year to 1.06 million, and Subscription ARPU rose 2% to $64.16.

FuboTV expects second-quarter North American revenue of $220 million to $225 million.

FuboTV guided for 965,000 to 975,000 total subscribers in North America in the second quarter, representing 44% year-over-year growth at the midpoint.

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FUBO 52-Week Range: $3.68 - $35.10

The stock was down 6.31% in after-hours at $3.86 at press time.

Photo: courtesy of FuboTV.