Overview
- FuboTV, which enacted the 1-for-12 reverse split Tuesday, saw shares drop as much as 10.6% before trimming losses to a roughly 3.6% decline.
- Following a Delaware filing that included Hulu, LLC’s written consent, the stock began split‑adjusted trading on the NYSE under FUBO with a new CUSIP, a common tactic companies use to lift per‑share prices for listing compliance and institutional screens.
- Disney now holds 70% of the combined Fubo–Hulu + Live TV venture, leaving public shareholders with 30% tied to a streaming operation that produced $6.2 billion in pro forma revenue and $78 million in adjusted EBITDA over the past year.
- First‑quarter results topped forecasts with EPS of $0.02 versus a projected $0.03 loss and revenue of $1.68 billion from adding Hulu + Live TV, while subscribers slipped to 6.2 million in North America and 335,000 internationally.
- Analysts reset views after the quarter as Seaport upgraded FUBO to Buy with a $3 target and Needham kept Buy but cut its target to $3, pointing to the expected loss of NBC sports content in 2026 as a headwind.