Overview
- Fubo reported Q3 revenue of $368.6 million and adjusted earnings of $0.02 per share, topping expectations for $361.3 million and a $0.04 loss.
- North American paid subscribers reached 1.63 million, the company’s highest third-quarter total, up from 1.61 million a year ago and 1.35 million in Q2.
- Adjusted EBITDA margin improved to 1.8% for a second straight positive quarter, with $280.3 million in cash and negative free cash flow of $9.4 million.
- Product moves included a sports-focused skinny bundle in 100 U.S. markets and a new channel store integrating services such as Hallmark+, DAZN1, MLB.tv, MGM+, Starz and Paramount+ with Showtime.
- Disney closed a 70% acquisition of Fubo last week, giving it roughly 6 million subscribers across Fubo and Hulu + Live TV, which will continue to operate as separate brands as Fubo shares ticked higher.