Fubo beats Wall Street expectations in Q2 as antitrust lawsuit heads to court – Knowligent
Fubo beats Wall Street expectations in Q2 as antitrust lawsuit heads to court

Fubo beats Wall Street expectations in Q2 as antitrust lawsuit heads to court

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Summary by Deadline com • The Wall Street Journal on Youtube • Published 3 months ago

Streaming service Fubo beat Wall Street expectations in the second quarter, reporting a loss of 8 cents per share on total revenue of $382.7 million.

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The loss was better than the 19 cents per share loss in the same quarter a year earlier, while revenue rose 26%.

Fubo also reported it reached 1.45 million paying subscribers, up 24% from the same period in 2023.

The financial results came on the same morning that a hearing begins in federal court in New York in Fubo’s antitrust lawsuit against Disney, Fox and Warner Bros. Discovery. The lawsuit alleges that the media companies conspired and used their market power to plan a streaming joint venture, Venu Sports, that would undermine Fubo. Tuesday’s hearing on a preliminary injunction will be held in the U.S. District Court for the Southern District of New York. Fubo CEO David Gandler is among those expected to testify.