FuboTV Announces Strong Q3 2024 Financial Results

FuboTV Inc., a leading sports-first live TV streaming platform, released its financial results for the third quarter ending September 30, 2024, showcasing robust year-over-year growth and significant improvements in key financial metrics. The company reported a 21% increase in revenue in North America, totaling $377 million, with 1.613 million subscribers, marking a 9% growth. The Average Revenue Per User (ARPU) saw a 2.5% year-over-year expansion to $85.64.

In the Rest of the World segment, FuboTV observed a total revenue of $8.9 million, up 6.0% year-over-year, and 378,000 paid subscribers, showing an 8.1% decline. The Average Revenue Per User (ARPU) in this region reached $7.50, reflecting a 7.5% year-over-year increase. These metrics align with FuboTV’s strategy, considering the seasonality of sports content in relation to key performance indicators.

The net loss from continuing operations in the third quarter was $54.7 million, with an earnings per share (EPS) loss of $0.17. This compares favorably to the previous year’s quarter, which reported a net loss of $84.4 million and an EPS loss of $0.29. Adjusted EPS for the same period showed improvement at $0.08, compared to $0.22 in the prior year.

The Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (AEBITDA) reflected a significant improvement, with a reduction of $33.8 million compared to the third quarter of 2023, totaling -$27.6 million for the period. FuboTV also demonstrated enhanced financial performance in terms of cash flow, reporting notable improvements in net cash provided by operating activities in the third quarter.

Looking ahead, FuboTV provided guidance for the North America region, projecting total revenue of $426 million to $446 million for the fourth quarter of 2024, representing 9% year-over-year growth at the midpoint. For the full year 2024, the company anticipates total revenue of $1.580 billion to $1.600 billion, representing a 19% year-over-year growth at the midpoint.

In the Rest of the World segment, FuboTV expects total revenue of $8 million to $9 million for Q4 2024, indicating no year-over-year growth at the midpoint. For the full year 2024, the projection stands at $33 million to $35 million in total revenue, with anticipated paid subscribers of 345,000 to 355,000.

FuboTV’s detailed financial results for the third quarter, along with management commentary, can be accessed through the company’s investor relations site. The company continues to focus on providing a high-quality streaming experience while striving for profitability, exemplified by ongoing strategic initiatives and financial discipline.

The company is committed to innovation and aligning with consumer needs. Amidst a dynamic market environment, FuboTV remains dedicated to delivering a distinctive sports entertainment streaming platform while navigating competitive dynamics and industry disruptions.

Furthermore, FuboTV disclosed details concerning its key performance metrics and non-GAAP financial measures in the same document, highlighting important industry-specific nuances, financial indicators, and reconciliations from GAAP measures to non-GAAP equivalents.

Investors and analysts can delve deeper into FuboTV’s operational performance, financial outlook, and strategic positioning through the comprehensive array of disclosed information. The company’s forward-looking statements elaborate on anticipated business performance, strategic priorities, and market outcomes, emphasizing the evolving landscape of the streaming industry and FuboTV’s response to competitive and regulatory challenges.

The live webcast hosted by FuboTV executives provides stakeholders with an avenue to gain further insights into the company’s financial results, strategic direction, and growth trajectory. The leadership team’s remarks, coupled with the Q&A session, offer an interactive platform for engaging with key stakeholders and addressing pertinent queries.

DISCLAIMER: This article is based on the information extracted from FuboTV Inc.’s publicly available 8-K filing and Exhibit 99.2, dated November 1, 2024. The details and figures presented are as provided in the original source document. Readers are encouraged to refer directly to the company’s official statements and financial filings for comprehensive and accurate information.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read FuboTV’s 8K filing here.

FuboTV Company Profile

fuboTV Inc operates a live TV streaming platform for live sports, news, and entertainment content in the United States and internationally. The company’s platform allows customers to access content through streaming devices, as well as on SmartTVs, mobile phones, tablets, and computers. fuboTV Inc was incorporated in 2009 and is headquartered in New York, New York.