Why FuboTV Stock Plummeted Today
Key Points
FuboTV's loss in fiscal Q2 was actually significantly lower than Wall Street's target.
The streaming specialist's fiscal Q2 sales missed Wall Street's forecast, and the company reported subscriber declines.
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FuboTV (NYSE: FUBO) stock saw a big pullback in Wednesday's trading following the company's latest quarterly report. The streaming specialist's share price closed out the daily session down 15.9%.
Before the market opened today, FuboTV published results for the second quarter of its 2026 fiscal year -- a period that ended March 31. While the company's per-share loss in the period was far lower than anticipated, sales missed Wall Street's targeted level.
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FuboTV's revenue and subscriber numbers were disappointing
FuboTV recorded a loss per share of $0.07 on sales of $1.57 billion in fiscal Q2. While the per-share loss was $0.26 lower than anticipated, sales also came in $10 million below the average analyst estimate. Revenue was up just 0.6% year over year, and the company's subscriber numbers were uninspiring. FuboTV closed out fiscal Q2 with 5.7 million subscribers in North America -- down from the 5.9 million subscribers reported in last year's quarter.
What's next for FuboTV?
With its fiscal Q2 report, FuboTV reiterated previously issued guidance. The company continues to guide for non-GAAP (adjusted) earnings before interest, taxes, depreciation, and amortization (EBITDA) between $80 million and $100 million for the fiscal year. The company also said that it continues to expect to be free-cash-flow positive in the next two fiscal years and reiterated its target for adjusted EBITDA of at least $300 million in the 2028 fiscal year.
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Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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