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 $368.26 million. It’s also an increase from the $303.91 million reported during the second quarter of 2023.
David Gandler, co-founder and CEO of fuboTV, said the following in the earnings report:
“In North America, we exceeded guidance, growing North America revenue by 26% and subscribers by 24% year-over-year. We’re confident we can continue this success as we remain focused on delighting our users with more flexible bundle options as part of our Super Aggregation strategy, delivered to them through a single, frictionless app.”
FUBO Stock: Guidance Update
FuboTV provided guidance updates for Q3 and 2024 in its latest earnings report. It expects Q3 revenue to range from $360 million to $370 million while its yearly range comes in between $1.57 billion to $1.59 billion.
Both of these are looking good next to Wall Street’s estimates. That includes Q3 revenue of $364.6 million and total 2024 revenue of $1.57 billion.
FUBO stock is down 3.4% as of Tuesday morning after popping in earlier trading.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
