FuboTV Posts First-Ever Positive Adjusted EBITDA, Shares Rise

FuboTV (NYSE:FUBO) reported better-than-expected second-quarter results, achieving its first-ever positive adjusted EBITDA and exceeding analyst forecasts for both earnings and revenue.

The sports-focused streaming platform posted adjusted earnings of $0.05 per share, compared with expectations for a $0.05 loss. Revenue totaled $371.3 million, beating the $353.72 million consensus, though down 3% from a year earlier. North American paid subscribers fell 6.5% year-over-year to 1.356 million.

Adjusted EBITDA reached $20.7 million, improving by $31.7 million from the prior-year quarter. Net loss from continuing operations narrowed to $8 million, or $0.02 per share, from $25.8 million, or $0.08 per share, a year earlier.

CEO David Gandler said the quarter marked a pivotal milestone for the company, emphasizing its strategy of offering choice and flexibility to capitalize on changes in the content landscape.