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Investing.com -- FuboTV Inc. (NYSE:FUBO) stock jumped 4.4% after the sports-first live TV streaming platform announced preliminary second quarter results that exceeded its previously issued guidance.
The company reported that its second quarter total revenue is expected to exceed $365 million, surpassing its prior guidance of $345 million at the midpoint, and higher than analyst expectations of $353.8 million. Fubo also anticipates paid subscribers to exceed 1.35 million for the quarter, above its previous guidance of 1.24 million.
In its Rest of World segment, Fubo expects total revenue to exceed $8.5 million and paid subscribers to surpass 340,000, both figures coming in above prior guidance.
The company projects a second quarter net loss of approximately $8 million, representing an improvement of about $18 million YoY. Notably, Fubo expects to report Adjusted EBITDA of at least $20 million, an increase of at least $30 million YoY, marking the company’s first quarter of positive AEBITDA.
Fubo anticipates ending the quarter with at least $285 million in cash, cash equivalents and restricted cash.
The company announced it will pause providing guidance for future results while its proposed business combination with Hulu + Live TV is pending. As a result, Fubo is withdrawing its previously communicated 2025 profitability target and suspending subscriber and revenue guidance.
Fubo plans to release its complete second quarter financial results before market open on August 8, followed by a conference call hosted by Co-founder and CEO David Gandler and CFO John Janedis.
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