FuboTV Shares Climb 3% as Q3 Results Exceed Expectations

NEW YORK - Shares of sports-focused live TV streaming platform FuboTV Inc. (NYSE: NYSE:FUBO) rose by 3.45% following better-than-expected third-quarter results and guidance offered.
In the third quarter, FuboTV reported a adjusted loss of $0.08 per share, surpassing analysts' expectations of a $0.18 loss. Revenue reached $377 million, a 21% increase compared to the same period last year, slightly exceeding the consensus estimate of $376.76 million.
The company completed the third quarter with 1.613 million subscribers, marking a 9% increase year-over-year. In North America, average revenue per user (ARPU) rose by 2.5% to $85.64.
David Gandler, co-founder and CEO of FuboTV, stated, "Fubo delivered strong results in the third quarter of 2024. This period stood out with consistent expansion at the top line and remarkable improvements at the bottom line."
FuboTV expects fourth-quarter revenue between $426 million and $446 million, indicating a 9% year-over-year growth at the midpoint. This forecast falls short of analysts’ expectation of $447 million.
The company raised its full-year revenue forecast for 2024 to between $1.58 billion and $1.60 billion, signaling a 19% growth. It expects to end the year with between 1.665 million and 1.705 million paying subscribers.
FuboTV indicated that it aims for positive free cash flow by 2025. The company ended the third quarter with $152.3 million in cash and cash equivalents.