Shares of fuboTV Inc. were off 1% in after-hours trading Wednesday after the streaming company delivered revenue ahead of what it had been expecting when it delivered preliminary results a month earlier but also issued a mixed outlook.
The company reported a fourth-quarter net loss of $112.0 million, or 76 cents a share, compared with a loss of $195.3 million, or $2.47 a share, in the year-earlier quarter.
reported revenue of $231 million, which included $26.1 million in advertising revenue. Analysts tracked by FactSet were projecting $213.3 million in revenue.
The company previously issued preliminary results in early January. At the time, fuboTV expected to report $215 million to $220 million in total revenue and over $25 million in advertising revenue.
FuboTV said in its release that it closed out the year with 1.13 million total paid subscribers after it added a net of 185,000 subscribers in the December quarter. Customers streamed 404 million hours of content through the service in the quarter.
“Engagement continues to be strong as we add differentiated content to our offering and focus on innovating our product to meet consumer preferences and drive a premium experience,” the company said in its shareholder letter.
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The company offered revenue and subscriber forecasts for the first quarter and the full year, opting to break the metrics out geographically for the first time.
FuboTV expects that its North America streaming business will see $232 million to $237 million in revenue for the first quarter and $1.08 billion to $1.09 billion in revenue for the full year. The company noted that the first quarter is typically “softer” than the fourth.
The company’s projections call for 1.028 million to 1.033 million subscribers as of the first quarter and 1.50 million to 1.51 million subscribers as of year’s end.
Looking at the company’s “rest-of-world”…