FuboTV Posts Narrower Adj. Loss From Cont. Ops. In Q3; Revenue Up 43%

(RTTNews) - fuboTV Inc (FUBO) posted a third quarter net loss from continuing operations of $84.4 million, or $0.29 per share compared to a net loss from continuing operations of $105.8 million or $0.57 per share, last year. Adjusted loss per share from continuing operations improved to $0.22, from a loss of $0.46. On average, eight analysts polled by Thomson Reuters expected the company to a loss per share of $0.32, for the quarter. Analysts' estimates typically exclude special items.

Third quarter total revenues increased to $320.93 million from $224.99 million, prior year. Analysts on average had estimated $286.18 million in revenue. The company recorded 20% year-over-year growth in subscribers and 43% year-over-year revenue growth in North America.

fuboTV increased fiscal 2023 revenue and subscriber guidance for North America Streaming. For fiscal 2023, the company projects 1.584 million to 1.599 million subscribers, up from prior guidance of 1.565 to 1.585 million, and revenue of $1.319 billion to $1.324 billion, revised from prior guidance of $1.260 billion to $1.280 billion. For fourth quarter, the company projects revenue of $385.0 million to $390.0 million.

Shares of fuboTV are up 15% in pre-market trade on Friday.

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