By Dean Seal
FuboTV swung to a profit in the first quarter despite falling subscriber counts as it focused on cost controls, though it expects revenue to turn downward in the current quarter.
The sports streaming service posted a profit of $188.5 million, or 55 cents a share, compared with a loss of $56 million, or 19 cents a share, in the same quarter a year earlier.
Stripping out one-time items, the company's adjusted loss was 2 cents a share. Analysts surveyed by FactSet had been bracing for an adjusted loss of 10 cents a share.
Revenue rose to $416.3 million from $402.3 million a year earlier. That beat analyst forecasts for $415 million, according to FactSet.
In North America, revenue was up 3.5%, while paid subscribers were down 2.7%. In the rest of the world, revenue was down slightly and paid subscribers fell 11%.
Chief Executive David Gandler said the company faced market turbulence in the first quarter and focused on profitability.
For the second quarter, FuboTV is guiding for North American revenue to fall 10% and for revenue overseas to decline 15%. Subscribers are expected to drop in both regions.
Shares were flat at $2.93 in premarket trading.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
May 02, 2025 07:52 ET (11:52 GMT)
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