FuboTV's Q2 2023 results exceeded guidance with 23% year-over-year subscriber growth and 41% revenue growth in North America. The company improved cash usage, maintained a strong balance sheet with $299.7 million in cash, and raised full year 2023 revenue and subscriber guidance in North America.
Fubo posted Q2 North America subscriber growth ahead of guidance.
North America Subscription revenue growth of 45% year-over-year was driven by both expansion in ARPU and the addition of regional sports networks (RSNs).
North America Advertising revenue grew 5% year-over-year.
Fubo delivered North America ad revenue of $22.8 million in the quarter, an increase of 5% year-over-year.
Fubo is raising its prior FY 2023 revenue and subscriber guidance. FY 2023 guidance now projects 1,565,000 to 1,585,000 subscribers, and revenue of $1,260 to $1,280 million. Q3 2023 guidance projects 1,327,000 to 1,347,000 subscribers, and revenue of $272.5 to $277.5 million.
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