FuboTV shares fall after N. America revenue view falls short of expectations

Shares of FuboTV (NYSE:FUBO) were down as much as 14% on Friday after the TV streaming platform guided lower revenue in North America, which overlooked the revenue and profit beat for the third quarter.

The company now expects full-year North America revenue to be $1.58B to $1.60B ($1.59B midpoint), revised from $1.57B to $1.59B. The Seeking Alpha consensus estimate is $1.62B. It also expects to add between 1,665,000 and 1,705,000 paid subscribers.

The company saw a 9% growth in total subscribers at 1.613M in Q3, while average revenue per user (ARPU) rose 2.5% to $85.64.

Subscription revenue, which makes up the bulk of the total revenue, came in at $356.6M, up 23% from last year, which helped offset lower revenue from the advertisement segment.

Net loss from continuing operations for the three months ended September 30 narrowed to $54.7M, or a loss per share of $0.17, compared to a loss of $84.4M, or $0.29 loss per share in the same period last year.

On an adjusted basis, the company lost 8 cents, while analysts were expecting it to lose 12 cents apiece.

Revenue rose 20% to $386.21M and was ahead of the consensus estimate by $9.46M.