What's Going On With FuboTV Stock Friday?

FuboTV Inc FUBO reported second-quarter FY23 sales growth of 41% year-on-year to $312.7 million, beating the consensus of $301.9 million.

Adjusted EPS loss of $(0.12) beat the consensus loss of $(0.23).

Adjusted EBITDA margin loss improved by 2,180 bps to (9.8)%.

North America Streaming: Revenue grew 41% Y/Y to $304.6 million as subscribers grew 23% Y/Y.

Rest of the World Streaming: Revenue was $8.2 million, a 40% jump.

FuboTV ended the quarter with $299.7 million of cash and equivalents.

"We are encouraged with our execution in the first half of the year, including posting year-over-year double-digit revenue and subscriber growth in the second quarter, while meaningfully reducing our net loss by $41 million," said David Gandler, co-founder and CEO, Fubo. "With an improving ad sales backdrop, we remain on track to achieve our 2025 positive free cash flow target."

Outlook: FuboTV sees Q3 North America revenue of $272.5 million-$277.5 million and Rest of the World revenue of $7.2 million-$8.2 million, representing a total of $279.7 million-$285.7 million, below the consensus of $295.75 million.

Fubo projected 1.327 million - 1,347 million paid subscribers in Q3.

FUBO raised its FY23 North America revenue outlook to $1.260 billion-$1.280 billion (prior $1.235 billion-$1.265 billion) and the Rest of the World revenue to $29.4 million-$33.4 million (earlier $28.6 million-$32.6 million), representing total of $1.289 billion-$1.313 billion (prior 1.264 billion-$1.298 billion), vs. the Street view of $1.29 billion. 

Price Action: FUBO shares were up 9.3% at $3.50 at last check Friday.

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