FuboTV Falls Over 8% to 52-Week Low After Q1 Loss, Reverse Split Plan
FuboTV reported Q1 revenue of $1.55B, up 40% year-over-year, but posted a $0.02 per share loss versus an expected $0.01 loss and withdrew forward guidance while unveiling a 1-for-8 to 1-for-12 reverse stock split plan. Shares plunged over 8% to $1.39, hitting a new 52-week low.
1. Q1 Revenue and Loss
FuboTV delivered Q1 revenue of $1.55B, representing a 40% year-over-year increase, but reported a $0.02 per share loss that missed the $0.01 loss forecast.
2. Subscriber Trends
The combined North American subscriber base with Hulu + Live TV stood at 6.2 million, a slight decline from 6.3 million a year earlier, raising concerns about churn and growth momentum.
3. Guidance Withdrawal and Reverse Split
The company withdrew all forward guidance for the remainder of the year and announced plans for a 1-for-8 to 1-for-12 reverse stock split to maintain listing compliance.
4. Stock Decline and Technical Setup
Shares plunged over 8% to $1.39, marking a 52-week low, while trading 36% below the 20-day simple moving average; technical indicators show an RSI of 18.2 and a death cross signaling ongoing bearish pressure.