FuboTV Q3 Earnings: Subscribers Grow 9% To 1.61 Million, Narrows EPS Loss, Raises Annual Outlook
In This Article:
FuboTV Inc.’s (NYSE:FUBO) stock traded higher in the premarket session after it reported fiscal third-quarter 2024 results.
Sales of the sports-first live TV streaming platform grew 20.1% year over year to $386.21 million, beating the analyst consensus estimate of $376.77 million.
Adjusted EPS loss of 8 cents beat the analyst consensus estimate of 18 cents loss.
The company’s adjusted EBITDA margin loss stood at (7.1)% versus (19.1)% Y/Y.
North America Streaming: Revenue grew 21% Y/Y to $377 million, as paid subscribers grew 9% Y/Y to 1.61 million. Average revenue per user (ARPU) rose 2.5% Y/Y to $85.64.
Rest of the World Streaming: Revenue was $8.9 million, a 6% Y/Y jump, with a paid subscriber decline of 8.1% Y/Y to 378,000. ARPU grew by 7.5% Y/Y to $7.50.
FuboTV held $152.3 million in cash and equivalents as of September 30, 2024.
Co-founder and CEO David Gandler: “We continue to prioritize the delivery of a high-quality, innovative, and frictionless experience for our users that includes personalization across content and price. This is what streaming should be, and it’s what compelled us to file our antitrust lawsuit against Disney, Fox, and Warner Bros. Discovery.”
Outlook: FuboTV expects fourth-quarter revenue of $434 million–$455 million (versus consensus of $376.77 million) and fiscal 2024 revenue of $1.613 billion-$1.635 billion (prior $1.603 billion-$1.625 billion) versus consensus of $1.62 billion.
Fubo stock plunged 45% year-to-date as it battled intense competition from Walt Disney Co (NYSE:DIS), Fox Corp (NASDAQ:FOX) and Warner Bros. Discovery, Inc (NASDAQ:WBD).
Price Action: FUBO stock traded higher by 1.71% at $1.77 premarket at last check Friday.
Also Read:
Photo: courtesy of FuboTv
UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets.
Get the latest stock analysis from Benzinga?
This article FuboTV Q3 Earnings: Subscribers Grow 9% To 1.61 Million, Narrows EPS Loss, Raises Annual Outlook originally appeared on Benzinga.com
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.