Loading...
•
Jun 30, 2023
fuboTV Q2 2023 Earnings Report
Fubo posted results that exceeded guidance, including subscriber and revenue growth, and demonstrated focus on unit economics, cost control and profitability.
Key Takeaways
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.
Revenue by Segment
Forward Guidance
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.
Positive Outlook
- FY 2023 guidance now projects 1,565,000 to 1,585,000 subscribers, representing 9% year-over-year growth at the midpoint.
- FY 2023 revenue guidance of $1,260 to $1,280 million, representing 29% year-over-year growth at the midpoint.
- FY 2023 revenue guidance implies $648 million of revenue at the midpoint in the second half of the year.
- Q3 2023 guidance projects 1,327,000 to 1,347,000 subscribers, representing 9% year-over-year growth at the midpoint.
- Q3 2023 revenue of $272.5 to $277.5 million, representing 25% year-over-year growth at the midpoint.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...