FuboTV Inc. (NYSE:FUBO) had a bit of a mixed bag to show investors Wednesday. The live TV streaming company beat on earnings, narrowed its losses, and raised its full-year outlook. But it missed on revenue, and in the world of Wall Street, that's often the number that gets the spotlight.
Shares fell about 6% in premarket trading after the company reported a third-quarter loss of 25 cents per share, which was better than the 37-cent loss analysts had expected. Revenue came in at $1.482 billion, just shy of the $1.504 billion consensus estimate.
It's a classic case of good news being overshadowed by a miss. The improved profitability and the raised EBITDA guidance were nice, but investors zeroed in on the top-line shortfall, especially in a live TV streaming market that's getting more crowded by the day.
Subscribers Keep Climbing, Losses Keep Shrinking
FuboTV's net loss narrowed to $25.7 million from $38.0 million a year earlier. Adjusted EBITDA was positive at $19.1 million, and the company ended the quarter with $236.4 million in cash, cash equivalents, and restricted cash.
North America revenue hit $1.474 billion, with paid subscribers up 2% year over year to a record 5.75 million. Rest of World revenue was $7.8 million, and subscribers there rose to 356,000 from 349,000 a year ago.
CEO Credits Sports and Advertising
CEO Alisa Bowen, who took over in July, said the company saw strong subscriber growth during major sporting events, including the NBA Finals and the FIFA World Cup 2026. She also noted that the advertising business improved after integrating with Disney Advertising.
Bowen said FuboTV plans to expand its programming packages, broaden distribution, and keep investing in the user experience to drive future growth.
What's Next for FuboTV
The company raised its fiscal 2026 pro forma adjusted EBITDA guidance to a range of $90 million to $100 million, up from its previous $80 million to $100 million. It also reaffirmed its fiscal 2028 adjusted EBITDA target of at least $300 million, expects to generate positive free cash flow in fiscal 2027 and 2028, and maintained its forecast to end fiscal 2026 with at least $200 million in cash.
FuboTV shares were down 6.39% at $8.94 in premarket trading Wednesday, hovering near its 52-week low of $7.95.
