Fubo's Q3 2023 results exceeded guidance, with 20% year-over-year subscriber growth and 43% year-over-year revenue growth in North America. The company also saw a healthy year-over-year improvement in cash usage and ended the quarter with $266 million in cash, cash equivalents and restricted cash. They are raising their full year 2023 revenue and subscriber guidance in NA.
Q3 2023 Net Loss from continuing operations was $84.4 million, leading to an earnings per share (EPS) loss of $0.29.
Adjusted EPS in the third quarter of 2023 improved to a loss of $0.22, compared to an adjusted EPS loss of $0.46 in Q3 2022.
Fubo delivered North America ad revenue of $30.3 million in the quarter, an increase of 34% year-over-year.
Subscriber related expenses (SRE), which decreased from 95% to 89% of revenue in Q3 versus the same prior year period.
Fubo is raising its prior FY 2023 revenue and subscriber guidance.
Analyze how earnings announcements historically affect stock price performance