FuboTV Stock Falls 14% Following Reverse Split, Revenue Up 24% Year-Over-Year

AI Summary

FuboTV's stock (FUBO) declined 14% to approximately $10 after a reverse stock split, marking a 66% drop year-to-date and a 74% decrease over the past year. The company reported quarterly revenue of $394 million, representing a 24% increase year-over-year, with 1.29 million North American paid subscribers, up 18% year-over-year. However, it also recorded a negative operating cash flow of $200.3 million and an earnings miss of -$0.1329. The reverse stock split occurred on March 24, following board approval on March 20, aimed at improving institutional investor appeal.