fuboTV(US:FUBO) ZACKSยท2024-08-06 13:40Core Insights - FuboTV Inc. reported a quarterly loss of $0.04 per share, better than the Zacks Consensus Estimate of a loss of $0.09, and an improvement from a loss of $0.12 per share a year ago, resulting in an earnings surprise of 55.56% [1] - The company achieved revenues of $389.22 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 5.35% and showing a year-over-year increase from $312.74 million [2] - FuboTV has surpassed consensus EPS estimates for four consecutive quarters and has also topped revenue estimates in the same timeframe [2] Financial Performance - The stock has experienced a decline of approximately 58.8% since the beginning of the year, contrasting with the S&P 500's gain of 8.7% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.14 on revenues of $366.99 million, while for the current fiscal year, it is -$0.47 on revenues of $1.58 billion [7] Industry Context - The Broadcast Radio and Television industry, to which FuboTV belongs, is currently ranked in the top 40% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]