NYSE$FUBO
FuboTV Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Fubo exceeded expectations with North America revenue and subscriber growth. Disciplined cost management led to improved gross margins and profitability.
Fubo's Q1 2024 results demonstrated strong performance with North America revenue and subscriber growth. The company focused on cost management, leading to improved profitability and cash usage. Strategic investments in monetization, particularly in advertising, contributed to the positive results.
- North America revenue and subscriber growth exceeded expectations, increasing by 24% and 18%, respectively.
- Operating expenses as a percentage of revenue significantly decreased and gross margins improved due to disciplined cost management.
- Profitability and cash usage showed healthy year-over-year improvement.
- Strategic investments in monetization, including advertising, continued to be made.
Headline financials
Revenue & EPS history
fuboTV · Revenue · Quarterly
$402M
Revenue by segment
fuboTV · $222M total across 2 segments · Q2 2023
- Subscription$199M-1.5%89.7%
- Advertising$22.8M+5.1%10.3%
Forward guidance
Fubo provided guidance for Q2 2024 and FY 2024, but this guidance does not reflect any potential impact of the joint venture launch to their business.
Tailwinds
- FY 2024 subscriber guidance projects 1,675,000 to 1,695,000 subscribers, representing 4% year-over-year growth at the midpoint for North America.
- FY 2024 revenue guidance projects $1,525 to $1,545 million, representing 15% year-over-year growth at the midpoint for North America.
- 2Q 2024 subscriber guidance projects 1,275,000 to 1,295,000 subscribers, representing 10% year-over-year growth at the midpoint for North America.
- 2Q 2024 revenue guidance projects $357.5 to $367.5 million, representing 19% year-over-year growth at the midpoint for North America.
- FY 2024 subscriber guidance projects 395,000 to 405,000 subscribers, representing a 2% year-over-year decline at the midpoint for Rest of World.
Headwinds
- Our FY 2024 subscriber guidance projects 395,000 to 405,000 subscribers, representing a 2% year-over-year decline at the midpoint for Rest of World.
- Our FY 2024 revenue guidance projects $33 to $35 million, representing 4% year-over-year growth at the midpoint for Rest of World.
- Our 2Q 2024 subscriber guidance projects 395,000 to 400,000 subscribers, representing 1% year-over-year growth at the midpoint for Rest of World.
- Our 2Q 2024 revenue guidance projects $8 to $9 million, representing 4% year-over-year growth at the midpoint for Rest of World.
- Given the many unknowns related to the potential launch of the sports streaming joint venture, including the outcome of our antitrust lawsuit and the DOJ’s reported investigation, our guidance and our planned path to profitability do not reflect any potential impact of the joint venture launch to our business.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
-3.2%
Avg return
Earnings day
-5.6%
Avg return
5 days after
-1.8%
Avg return
30 days after
39%
13 / 33 earnings
Positive
+66.1%
Q1 2023
Best reaction
-28.9%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | -15.9% | -19.9% | -23.1% | |
| Q4 2025 | -22.7% | -30.4% | -45.4% | |
| Q2 2025 | +0.0% | +1.6% | +8.4% | |
| Q1 2025 | -17.9% | -10.9% | +24.9% | |
| Q4 2024 | -13.9% | -12.5% | -17.6% | |
| Q3 2024 | -16.7% | -19.0% | -7.5% | |
| Q2 2024 | -5.3% | -3.8% | +26.0% | |
| Q1 2024 | -9.0% | -20.6% | -19.4% | |
| Q4 2023 | -10.6% | -16.4% | -23.7% | |
| Q3 2023 | +8.4% | +4.4% | +21.2% | |
| Q2 2023 | -19.0% | -25.2% | -17.4% | |
| Q1 2023 | +66.1% | +65.2% | +50.0% | |
| Q4 2022 | -17.7% | -27.2% | -52.2% | |
| Q3 2022 | +3.5% | -15.3% | -16.5% | |
| Q2 2022 | +18.8% | +24.0% | +15.8% | |
| Q1 2022 | -28.9% | -26.7% | -26.9% | |
| Q4 2021 | +4.7% | +6.7% | -13.0% | |
| Q3 2021 | -24.4% | -27.1% | -44.0% | |
| Q2 2021 | +13.9% | +3.2% | +4.2% | |
| Q1 2021 | +18.5% | +25.6% | +70.2% | |
| Q4 2020 | -12.0% | -22.7% | -42.1% | |
| Q3 2020 | +9.4% | +4.6% | +97.3% | |
| Q2 2020 | +2.1% | -1.4% | -14.6% | |
| Q1 2020 | -13.1% | +3.3% | -3.0% | |
| Q4 2019 | -4.9% | -14.6% | -5.7% | |
| Q3 2019 | -4.1% | -1.8% | -18.6% | |
| Q2 2019 | +0.5% | +0.5% | +32.9% | |
| Q1 2019 | -3.9% | -1.3% | -9.7% | |
| Q4 2018 | -4.3% | — | — | |
| Q3 2018 | +2.3% | — | — | |
| Q2 2018 | +2.4% | — | — | |
| Q1 2018 | -25.0% | — | — | |
| Q4 2017 | +12.9% | — | — | |
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