FuboTV Reports Q1 Subscriber Decline, Shares Fall 3%

FuboTV reported mixed first-quarter results, with revenue rising modestly year over year but falling short of analyst expectations, while subscriber counts continued to decline in both North America and international markets. The company managed to swing to a net profit due to a significant litigation settlement, but its adjusted loss per share was narrower than anticipated. Despite the revenue growth, advertising income dropped and FuboTV issued a weaker-than-expected outlook for the second quarter, projecting declines in both revenue and subscribers. Management emphasized a focus on profitability and highlighted gains in adjusted EBITDA and improved free cash flow. The company also noted ongoing regulatory processes related to its pending combination with Hulu + Live TV, which it believes could bolster competition in the Pay TV space. Overall, while FuboTV has shown resilience through cost controls, it continues to face challenges from subscriber losses and market headwinds.