NEW YORK - FuboTV Inc. (NYSE: NYSE:FUBO) shares gained 3.45% after the sports-first live TV streaming platform reported better-than-expected third quarter results and provided guidance.
FuboTV posted a third quarter adjusted loss per share of $0.08, beating analyst estimates for a loss of $0.18. Revenue grew 21% year-over-year to $377 million, slightly ahead of the $376.76 million consensus forecast.
The company ended Q3 with 1.613 million subscribers, up 9% from the prior year. North America average revenue per user (ARPU) increased 2.5% to $85.64.
"Fubo posted strong third quarter 2024 results, marked by continued expansion on the top-line and notable improvements on the bottom-line," said David Gandler, co-founder and CEO of FuboTV.
For the fourth quarter, FuboTV expects revenue between $426 million and $446 million, representing 9% YoY growth at the midpoint. This outlook falls short of the $447 million analyst consensus.
The company raised its full year 2024 revenue guidance to $1.58 billion to $1.60 billion, implying 19% growth. It expects to end the year with 1.665 million to 1.705 million paid subscribers.
FuboTV said it is targeting positive free cash flow in 2025. The company ended Q3 with $152.3 million in cash and equivalents.
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