FuboTV Inc. (NYSE: FUBO) saw its stock plummet 5.03% in Monday's pre-market trading, despite reporting better-than-expected third-quarter results for 2025. This unexpected downturn comes as a surprise to many investors, given the company's positive earnings report.

The sports-first live TV streaming platform reported adjusted earnings per share of 2 cents, surpassing analyst expectations of a 4-cent loss. Revenue for the quarter came in at $377.20 million, topping the consensus estimate of $361.33 million, although it represented a 2.3% year-over-year decline. Notably, FuboTV achieved its second consecutive quarter of positive adjusted EBITDA, with a margin of 1.8% compared to -7.1% in the same period last year.

Despite these encouraging financials, the stock's sharp decline suggests that investors may be focusing on other factors. The company's North American subscriber base grew by 1.1% year-over-year to 1.631 million, marking FuboTV's highest third-quarter growth in its history. However, revenue in this key market fell by 2.3%, which could be a point of concern for some shareholders. Additionally, the Rest of World segment saw declines in both revenue and paid subscribers, potentially raising questions about the company's global growth strategy. As the market digests this mixed bag of results, it remains to be seen how FuboTV's recent merger with Disney's Hulu + Live TV business will impact its future performance and stock valuation.