fuboTV (NYSE: FUBO) stock skidded over 8% on Friday, even though the company reported better-than-expected fourth-quarter fiscal 2023 results.
FuboTV (FUBO) has reported fourth-quarter results that have outstripped analysts’ expectations. The company revealed an adjusted EPS of -$0.17, a significant beat compared to the analyst consensus of -$0.31. Revenue for the quarter also exceeded forecasts, reaching $410.2 million compared to the expected $397.66 million.
The streaming service showcased robust growth, witnessing a 12% year-over-year (YoY) increase in paid subscribers, concluding the quarter with an impressive 1.618 million subscribers. The quarter saw a surge in total revenue by 29% YoY, and there was a substantial rise in ad revenue, which concluded at $38.6 million, marking a 15% increase YoY. FuboTV’s average revenue per user (ARPU) reached a record high of $86.65, reflecting a 15% YoY improvement.
FuboTV forecasts continued growth in the first quarter of 2024, with expected paid subscribers ranging between 1.415 million and 1.435 million, reflecting an 11% growth at the midpoint. Total revenue will range between $365 million and $375 million, representing a 17% increase YoY at the midpoint.
Looking ahead to the full year 2024, the company anticipates 1.665 million to 1.685 million paid subscribers, indicating a 4% growth YoY at the midpoint. The company expects the total revenue for the year to range from $1.505 billion to $1.525 billion, indicating an approximate 13% increase year-over-year when considering the average of this range.
In contrast, the Rest of World (ROW) segment will likely see a slight decline in paid subscribers for 2024, with a forecasted range of 390,000 to 410,000, marking a -2% change YoY at the midpoint. However, total revenue for ROW is estimated to grow by 2% YoY at the midpoint, ranging between $31 million and $35 million.
The company’s robust balance sheet, boasting $251 million in cash, cash equivalents, and restricted cash, positions it well to fund its current operating plan and work towards achieving its long-term financial goals.
fuboTV (NYSE: FUBO) Stock Performance
FUBO stock fell 8.21% to close at $1.90 on Friday. The traders had exchanged hands with 49,220,500 (49.22 million) shares compared to the average daily trading volume of 11.56 million.

Salman Akhtar is a finance, stocks, and technology journalist with years of experience across various news organizations. He has contributed his expertise to outlets such as 24NewsHD, TrimFeed, The Voice Pakistan, and TheTechBasic. Salman is passionate about making complex topics accessible to a broad audience. His dedication to delivering accurate and timely information has established him as a trusted voice in the industry. Read Full Bio