FuboTV (NYSE:FUBO) stock is on the move Tuesday following the release of the sports and entertainment TV streaming company's latest earnings report. For the second quarter of 2024, fuboTV reported adjusted EPS of -4 cents. That's better than the -9 cents per share that Wall Street was expecting. That's an improvement over the -12 cents per share from the same period of the year prior. FuboTV also reported revenue of $380.92 million during the quarter. That's another beat compared to analysts' estimate of $3 ...

fuboTV Inc. (FUBO) reported $389.22 million in revenue for the quarter ended June 2024, representing a yearover-year increase of 24.5%. EPS of -$0.04 for the same period compares to -$0.12 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $369.47 million, representing a surprise of +5.35%. The company delivered an EPS surprise of +55.56%, with the consensus EPS estimate being -$0.09. While investors scrutinize revenue and earnings changes year-over-year and how they compare with W ...

Financial Data and Key Metrics - North America revenue grew 26% YoY to $382.7 million, with 1.45 million paid subscribers, up 24% YoY [6] - Ad revenue increased 14% YoY to $25.8 million [6] - Global revenue grew 25% YoY to $391 million, driven by 26% growth in North America and 2% growth in the rest of the world [15] - Net loss improved significantly to $25.8 million from $54.2 million in Q2 2023, with adjusted EBITDA improving by $19.6 million YoY to negative $11 million [16] - Free cash flow improved by $40.5 million YoY [17] Business Line Data and Key Metrics - The company launched the fubo Free tier, offering nearly 200 free ad-supported streaming television (FAST) channels, with early results being encouraging [12] - The company plans to expand its tiered offering with standalone content, including SVOD, pay-per-view, TVOD, and skinny bundles [13] Market Data and Key Metrics - North America subscriber guidance for Q3 is 1.605 million to 1.625 million, representing 9% YoY growth at the midpoint [19] - Full-year 2024 North America subscriber guidance is 1.725 million to 1.745 million, representing 7% YoY growth at the midpoint [19] - Rest of the world subscriber guidance for Q3 is 397,000 to 402,000, representing a 3% YoY decline at the midpoint [20] Company Strategy and Industry Competition - The company is focused on delivering value and expanding its relevancy to consumers in a fast-changing environment, with a vision to offer users premium content within the fubo ecosystem [11][12] - The company is fighting for competition and better prices in a market in disruption, contrasting with the Walt Disney Company, Fox Corporation, and Warner Brothers Discovery [8][9] - The company is encouraged by earlier reports that the Department of Justice is looking into the sports streaming joint venture (JV) and the increasing number of high-profile Capitol Hill lawmakers, public interest groups, and other content distributors weighing in on the negative impact the JV would have for consumers [10] Management Commentary on Operating Environment and Future Outlook - The company remains focused on bringing consumers an aggregated sports entertainment offering that delivers premium content and innovative product features at the right price point [13] - The company is committed to a competitive streaming landscape that offers consumers choice, fair pricing, and innovation [13] - The company is confident in its ability to execute with all teams operating at the highest levels and is dedicated to upholding rigor and discipline in managing company-wide costs [6][17] Other Important Information - The company repurchased $46.9 million of convertible debt at an average price of 56.6% of par value, enhancing shareholder value and boosting financial flexibility [7] - The company ended the quarter with $161.3 million of cash, cash equivalents, and restricted cash, confident that its liquidity will be adequate to invest in the business under its current operating plan [18] Q&A Session Question: Update on cost per thousand and the ad market [22] - Ad revenue growth was 14% YoY, with strength in CPMs in the sports marketplace and some pressure in the entertainment front [22][23] Question: Advertising performance and subscription retention around the Olympics [24] - Top five ad categories outperformed the overall portfolio, with strength in auto, e-comm, financial services, food, and beverage [25] - Subscribers from short-term events like the Olympics tend to have less retentive value, and the marketing team does not aggressively pursue them [25] Question: Details on the Free service and its impact on subscriber performance [27] - The Free service is early in its rollout, with encouraging early results and increasing ad growth, but it is too soon to determine its impact on retention [28][29] - The company is focused on reactivating churned customers and may expand the Free service to other cohorts in the future [30] Question: Drivers of net ads in North America [31] - Sporting events and better-than-expected churn drove subscriber growth, with SAC coming in below target [31] - The company saw strong sports calendar performance, including major soccer events and cricket championship marketing [32] Question: Impact of connected TV options on TAM [34] - The FAST business is complementary, with 7% of viewership coming from FAST within the paid service [36] - The company views connected TV options as potential business development partners rather than direct competitors [36] Question: Retention efforts after sporting events and capital expectations [38] - Retention efforts focus on delivering a good viewer experience, with the Free service available to churned customers to reengage them [39] - The company is funded to execute on its operating plan, excluding the potential impact of the JV, and is sensitive to shareholder dilution [41] Question: Marketing approach and pricing power [43] - The company has raised prices by $5 this year, with retention in line to better than expected, indicating some remaining pricing power [44] - Marketing adjustments for the third quarter will be shared in the next earnings call [45] Question: Sequential improvement in subscriber-related expenses [47] - Subscriber-related expenses improved due to a combination of factors, including content negotiations and mix-shift opportunities, not just the removal of Warner Brothers content [47][48]

fuboTV reported great news today, but can it last? fuboTV (FUBO -5.72%) stock fared better than most in yesterday's Japan-inspired market rout, losing only 1.5% -- and only half as bad as the S&P 500 index's 3% loss. The good news seemed ready to keep on rolling this morning, too, when fuboTV reported better-than-expected sales and earnings, inspiring an early 15% pop in the stock. But then it vanished. As of 9:45 a.m. ET, fuboTV has already turned tail and moved lower, down 2.3%. This despite the fact that ...

Core 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]

Core Insights - Fubo exceeded Wall Street expectations in Q2, reporting a loss of 8 cents per share and total revenue of $382.7 million, an improvement from a loss of 19 cents per share in the same quarter last year, with revenue increasing by 26% [1] - The company has 1.45 million paid subscribers, reflecting a 24% increase from the same period in 2023, and projects to reach approximately 1.8 million subscribers by the end of 2024 [1][3] Financial Performance - Advertising revenue rose by 14%, attributed to efforts to enhance visibility within agency holding companies during the start of the 2024 upfront season [3] - Fubo has increased its full-year guidance, expecting to achieve between 1.725 million to 1.745 million subscribers and revenue of $1.57 billion to $1.59 billion, excluding potential impacts from ongoing antitrust litigation [4] Legal Context - Fubo is involved in an antitrust lawsuit against Disney, Fox, and Warner Bros. Discovery, claiming these companies colluded to undermine Fubo through a streaming joint venture, Venu Sports [2][4] - A preliminary injunction hearing is scheduled in federal court, with Fubo's CEO expected to testify [2] Market Reaction - Following the earnings report, Fubo shares, which have declined over 50% in 2024, experienced a 16% increase in pre-market trading [5]

fuboTV Inc. (NYSE:FUBO) J.P. Morgan 52nd Annual Global Technology, Media and Communications Conference May 20, 2024 3:10 PM ET Company Participants Conference Call Participants Nikhil Aluru All right, we'll get started. Hey, everyone. I'm Nikhil Aluru, help cover telecom, cable, satellite here at JPMorgan, joined by David Gandler, CEO of Fubo. David, thanks for joining us. David Gandler Thank you for having me. Nikhil Aluru Of course. So I think, I mean, just to get started, you and your team have done a lo ...

Fubo is under threat from a potential new entrant into the sports streaming market.Fool.com contributor Parkev Tatevosian evaluates the latest results for Fubo (FUBO 1.50%) and determines if the stock is a buy. *Stock prices used were the afternoon prices of May 2, 2024. The video was published on May 4, 2024. ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or o TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission File Number: 001-39590 fuboTV Inc. (Exact Name of Registrant as Specified in Its Charter) | Florida ...

Financial Data and Key Metrics - Fubo achieved $394 million in total revenue for Q1 2024, up 24% year-over-year [19] - Paid subscribers reached 1,511,000, an 18% year-over-year increase [19] - North American ad revenue grew to $27.2 million, a 21% year-over-year increase [19] - Adjusted EBITDA margin improved to minus 10%, a 796 basis points improvement compared to Q1 2023 [20] - Free cash flow and adjusted EBITDA improved for the fifth consecutive quarter [20] - Global revenue grew by 24% to $402.3 million, driven by 24% growth in North America and 7% growth in Rest of World [31] - Adjusted EBITDA loss improved to $41.1 million from $58.9 million in Q1 2023 [33] - Net loss improved to $56.3 million, a 32% reduction year-over-year [48] Business Line Data and Key Metrics - North American ARPU improved to $84.54 from $76.79 in the prior-year period [27] - Rest of World ARPU improved to $7 from $6.57 [27] - Advertising revenue totaled $27.5 million, a 21% increase year-over-year [32] - FAST channels accounted for 9% of total viewing hours, with hours per subscriber far exceeding overall subscriber growth [80][81] Market Data and Key Metrics - Fubo achieved the lowest subscriber acquisition cost (SAC) to ARPU ratio in its history, well below the target range of 1 to 1.5 times [21] - March 2024 marked the lowest churn rate for any March on record for the company [21] - The company expects 1.275 million to 1.295 million North American subscribers in Q2 2024, representing 10% year-over-year growth [41] - Full-year 2024 North American revenue guidance is $1.525 billion to $1.545 billion, representing 15% year-over-year growth [41] Company Strategy and Industry Competition - Fubo is focused on tech innovation, particularly in AI-driven playlists and personalized DVR experiences [4][83] - The company is committed to achieving profitability by 2025, with a focus on cost-cutting and operational efficiency [67][102] - Fubo is engaged in litigation against The Walt Disney Company, Fox Corp, and Warner Bros Discovery, alleging anti-competitive practices [6][7] - The company is introducing a free tier and expanding its FAST channel offerings to drive engagement and monetization [79][87] Management Commentary on Operating Environment and Future Outlook - Management highlighted the challenges posed by above-market content licensing costs, which accounted for 90% of total revenue in Q1 [6] - The company is encouraged by the progress in its antitrust lawsuit and the support from competitors like DIRECTV and Dish [7][25] - Fubo expects continued ARPU expansion and improved unit economics, with revenue growth outpacing subscriber growth [41] - The company is focused on maintaining discipline in subscriber acquisition costs while investing in advertising and monetization capabilities [42][56] Other Important Information - Fubo has received strong support from Capitol Hill, with Congressmen expressing concerns over the JV's control of 80% of broadcast sports content [23][25] - The company has signed agreements with Comscore and TransUnion to enhance cross-platform measurement and data capabilities for advertisers [60] - Fubo's Molotov service in France has grown revenue from $7 million in 2020 to over $30 million, with a gross margin profile just below 40% [91][92] Q&A Session Summary Question: What is driving the lower churn and SAC? - The marketing team has improved efficiency, spending at the right time and moving budgets effectively, leading to the lowest SAC in company history [42][43] Question: What is driving the strong advertising performance? - New sales leadership and improved programmatic capabilities have driven advertising growth, with Q1 ad revenue up 21% year-over-year [43][56] Question: Will Fubo increase customer acquisition spending given the tailwind in advertising? - The company remains disciplined, focusing on achieving profitability by 2025, and will not significantly increase customer acquisition spending despite efficient SAC [67] Question: What is the outlook for the free tier and FAST channels? - FAST channels now account for 9% of viewing hours, and the free tier is expected to drive engagement and monetization when launched later this year [79][80][87] Question: How will the termination of the Warner Bros Discovery contract impact pricing? - Fubo plans to maintain current pricing, with savings flowing to the bottom line rather than altering pricing strategy [98] Question: What measures are being taken to ensure sustainable long-term growth? - Fubo is focused on cost-cutting, content strategy, technology development, and expanding reach and distribution, including the launch of a free tier [95][102]