RTTNews | Aug 11, 2021 07:41AM EDT

07:41 Wednesday, August 11, 2021 (RTTNews.com) - Shares of sports-first live TV streaming platform fuboTV Inc. (FUBO) are up more than 12% in pre-market on Wednesday after the company raised its full-year sales guidance.

The company expects revenue in the range of $560 million -570 million in the full-year, 116% increase at the mid-point compared to last year, up from an increase of 101% in our prior guidance. Analysts polled by Thomson Reuters expects revenue of $531.68 million for the period.

During the third quarter, fuboTV expects revenue in the range of $140 million - $144 million. The consensus estimate stands at $126.86 million.

fuboTV's second-quarter results were better-than-expected.

Revenue for the quarter increased 196% year-over-year to $130.9 million, helped by 281% growth in advertising revenue and 189% increase in subscription revenue. Analysts polled by Thomson Reuters expected revenue of $118.88 million for the quarter.

The company cited a subscriber growth of 138% in the second quarter.

Net loss in the second quarter widened to $94.9 million or $0.68 per share from net loss of $73.6 million or $2.08 per share in the same quarter a year ago.

Excluding items, adjusted loss was $0.38 per share, that beat the average estimate of analysts at $0.5 loss per share.

FUBO closed Tuesday's regular trade at $28.64, up 2.54%. The stock is currently at $32.26.

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