fuboTV (NYSE:FUBO) Q3 Earnings: Leading The Media Pack
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Looking back on media stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including fuboTV (NYSE:FUBO) and its peers.
The advent of the internet changed how shows, films, music, and overall information flow. As a result, many media companies now face secular headwinds as attention shifts online. Some have made concerted efforts to adapt by introducing digital subscriptions, podcasts, and streaming platforms. Time will tell if their strategies succeed and which companies will emerge as the long-term winners.
The 8 media stocks we track reported a satisfactory Q3. As a group, revenues were in line with analysts’ consensus estimates.
In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.
Best Q3: fuboTV (NYSE:FUBO)
Originally launched as a soccer streaming platform, fuboTV (NYSE:FUBO) is a video streaming service specializing in live sports, news, and entertainment content.
fuboTV reported revenues of $386.2 million, up 20.3% year on year. This print exceeded analysts’ expectations by 2.5%. Overall, it was a very strong quarter for the company with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.
fuboTV scored the biggest analyst estimates beat of the whole group. Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 12.6% since reporting and currently trades at $1.52.
Is now the time to buy fuboTV? Access our full analysis of the earnings results here, it’s free.
Scholastic (NASDAQ:SCHL)
Creator of the legendary Scholastic Book Fair, Scholastic (NASDAQ:SCHL) is an international company specializing in children's publishing, education, and media services.
Scholastic reported revenues of $237.2 million, up 3.8% year on year, outperforming analysts’ expectations by 1.6%. The business had a very strong quarter with an impressive beat of analysts’ EBITDA and EPS estimates.
Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 9.9% since reporting. It currently trades at $27.22.
Is now the time to buy Scholastic? Access our full analysis of the earnings results here, it’s free.
Weakest Q3: Endeavor (NYSE:EDR)
Owner of the UFC, WWE, and a client roster including Christian Bale, Endeavor (NYSE:EDR) is a diversified global entertainment, sports, and content company known for its talent representation and involvement in the entertainment industry.