Overview
- Fubo closed the quarter with 6.2 million North American subscribers after combining operations with Hulu + Live TV, with Disney owning 70% and legacy Fubo shareholders retaining 30%.
- Reported revenue reached about $1.55 billion, pro forma first‑quarter revenue was $1.68 billion year over year, and the GAAP net loss narrowed to $19.1 million.
- The board approved a reverse stock split in the 1‑for‑8 to 1‑for‑12 range, with trading at the new ratio scheduled to begin later this quarter.
- Fubo shares fell roughly 19%–25% in Tuesday trading following the earnings release and reverse‑split announcement.
- Ad tech is slated to migrate to Disney’s server later this month and Fubo outlined an ESPN reseller and marketing arrangement subject to definitive agreements, while the NBCUniversal/Versant blackout persists and Comcast has ceased renewal talks for now.