Sports-first streamer Fubo saw its stock rise Tuesday after unveiling preliminary second quarter results that forecast a likely shrinking net loss on lower overall revenues.
Fubo forecast Q2 total revenue in North America will exceed $365 million. That’s after delivering $382.7 million in overall revenue in the same period of 2024. And the company predicted a second quarter net loss at around $8 million. The year-earlier net loss in the same period came to $28.4 million.
Shares in Fubo jumped by 27 cents, or nearly 8 percent, to $3.80 in pre-market trading on Tuesday after the release of its preliminary financial results. The sports-first streamer also predicted its second quarter base of paid subscribers will exceed 1.35 million. The company posted 1.47 million paid subscribers in the first quarter of 2025.
Fubo with its preliminary results said its global streaming business was expected to exceed earlier revenue and subscriber guidance provided in the first quarter of 2025. At the same time, the streamer added it will “pause” guidance for future results while a proposed business combination where Walt Disney merges its Hulu With Live TV service with Fubo moves toward completion.
The new company will continue to be traded publicly under the Fubo name and Disney will control 70 percent and appoint a majority of the board. Fubo management, including co-founder and CEO David Gandler, will run the combined venture.
The proposed merger aims to create a bigger player in the virtual multichannel video provider (vMVPD) space well positioned to aggressively take on the market leader YouTube TV.
Fubo is scheduled to unveil its full second quarter financial results on Aug 8.
