FuboTV (FUBO), Upstart (UPST) stocks zoom after solid Q2 results

3 min read | August 12, 2021 06:17 AM AEST | By Team Kalkine Media

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FuboTV (FUBO), Upstart (UPST) stocks zoom after solid Q2 results — Image source: VideoFlow,Shutterstock

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Summary

FuboTV Inc. (NYSE:FUBO) reported revenue of US$130.9 million in Q2, 2021, up 196% YoY.

Upstart Holdings, Inc.’s (Nasdaq:UPST) revenue surged 1018% YoY to US$194 million in Q2.

UPST reported a net income of US$37.3 million in the latest quarter.

Stocks of FuboTV Inc. (NYSE:FUBO) and Upstart Holdings, Inc. (Nasdaq:UPST) soared more than 7% and 20%, respectively, on Wednesday following their strong second quarter results.

FuboTV Inc. reported its earnings on Wednesday, and Upstart reported Tuesday. FUBO stock surged 7.72 percent at 12.38 pm ET, while UPST shares soared 20.71 percent to US$163.805 at 12.56 pm ET.

Here we explore the performance of the two companies in the second quarter.

FuboTV Inc. (NYSE:FUBO)

The TV streaming platform reported a revenue jump of 196 percent YoY to US$130.9 million in the quarter. In addition, revenue from advertisements went up by 281 percent YoY to US$16.5 million.

The company reported a net loss of US$94.9 million or US$0.68 per share. The paid subscribers of the company were 681,721, up 138 percent YoY. In addition, 91,291 subscribers were added in the quarter. The engagement time also went up by 245 million hours in the quarter, up 148 percent YoY.

Source: Pixabay.

The FUBO stock went up by 10.72 percent YTD. The market cap of the TV streaming platform is US$4.2 billion.

The forward P/E one year is -12.73. The earnings per share (EPS) is US$-9.94. The highest and lowest stock price of for the last 52 weeks was US$62.29 and US$9.06. The share volume is 27,154,993.

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Upstart Holdings, Inc. (Nasdaq:UPST)

The total revenue for the cloud-based AI platform was US$194 million in the quarter, up 1018 percent YoY. In addition, the total fee revenue was US$187 million, up 1308 percent YoY.

The company reported a net income of US$37.3 million compared to US$6.2 million in Q2 last year. Earnings per share for the period was US$0.39. The contribution profit was US$96.7 million, up 2171 percent YoY. Adjusted EBITDA was US$59.5 million compared to US$3.1 million in Q2 last year.

The company expects total revenue of US$205-215 million in Q3 this year. It also expects a net income of US$18-22 million. The expected adjusted EBITDA is US$3-34.

The stock value of the company soared by 301.01 percent YTD. The market capitalization of the US-based company is US$12.5 billion. The forward P/E one year is 502.52. The highest and lowest stock price of the software company for 52 weeks is US$91.89 and US$22.61. The share volume is 12,151,981.

Also read: Why are Palantir (PLTR), Roblox (RBLX) stocks trending today?

On July 28, the company had announced that Associated Bank, Midwest regional bank, had begun to use its AI platform for enhanced personal loan capabilities.

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