The video streamer provided a business update for its shareholders.
It released preliminary second-quarter results for selected fundamentals.
Investors were cautiously optimistic about the latest news from video streamer FuboTV (NYSE: FUBO) on Tuesday, and as a result, they pushed the company's stock price up on the day. It closed 0.3% in positive territory during a session when the S&P 500 (SNPINDEX: ^GSPC) dipped at the same rate. FuboTV's news consisted of a set of preliminary second-quarter numbers.
For that period, FuboTV is expecting to post more than $365 million in revenue from its native North American market. Happily, that's some distance higher than the $345 million the company previously offered in guidance. It's also well above the sub-$354 million collectively estimated by analysts tracking the stock.
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That's due to an anticipated better-than-expected paid subscriber count, which FuboTV is estimating will amount to over 1.35 million in total for the quarter. Management's preceding guidance was 1.24 million.
The dynamic is similar in the rest of the world, where all told, second-quarter revenue is forecast at more than $8.5 million, following guidance of only $7 million. Paid subscribers should amount to over 340,000 (guidance: 330,000).
That was the good news; the slightly less good news is that FuboTV is expecting to post a headline net loss. It anticipates losing $8 million in the second quarter, which at least would be an improvement over the more than $25 million deficit in the same period of 2024.
FuboTV's official results for the quarter are scheduled for publication on Friday, Aug. 8, before market open. The better-than-expected preliminary results are certainly encouraging, but weighing on the company is that predicted net loss -- which, if realized, will hardly be its first quarterly bottom-line deficit.
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Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends fuboTV. The Motley Fool has a disclosure policy.