FuboTV Boosts Revenue Projections. But the Stock Is Falling.

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FuboTV

Monday boosted its fourth-quarter revenue guidance, saying it expects revenue of $215 million to $220 million, higher than previous estimates.

The streaming platform said revenue in the period will rise 105% to 109% from a year earlier and come in above previous estimates of $205 million to $210 million.

Analysts tracked by FactSet expect fourth-quarter revenue of $211.6 million.

Revenue expectations for the full year also were increased to between $622 million to $627 million, higher than earlier guidance of $612 million to $617 million.

Shares of FuboTV (ticker: FUBO) were falling 7.3% to $12.95 on Monday.

The results close out a pivotal year for the video-service company in which it made meaningful advancements to define a new category of interactive sports and entertainment television, said David Gandler, CEO of FuboTV, in a statement.

The company acquired Molotov, a Paris-based live TV streaming platform in December.

“While still early, our progress to date continues to reinforce our belief that the synergies of the combined companies will give us operating leverage to build a scalable global platform with minimal incremental spend,” Gandler said.

FuboTV shares have fallen about 49% over the past one year.

Write to Karishma Vanjani at [email protected]