FuboTV Beats Estimates but Stock Drops. It Has No Kind Words for Proposed Sports Streaming Venture.

Fubo ended the quarter with 1.618 million subscribers in North America, rising 12% from a year earlier, and 406,000 in the rest of the world, down 3%.

For 2024, the company expects revenue of $1.505 billion to $1.525 billion from its North America streaming segment and $31 million to $35 million from the rest of world. Analysts have been expecting total revenue of $1.62 billion.

The company also expects 1.665 million to 1.685 million subscribers from North America and 390,000 to 410,000 from the rest of the world, while analysts were calling for total subscribers of 2.12 million.

“These results are especially impressive given the years-long challenges Fubo has faced as a result of what we believe have been anticompetitive practices by
The Walt Disney
Company,
FOXCorp.
and
Warner Bros. Discovery,
” CEO David Gandler said in a statement.

Gandler added the proposed sports streaming joint venture “is only the latest example of the pernicious practices they have inflicted to suppress our business and harm consumers.”

Fubo last month filed a lawsuit against
Walt Disney,

Fox,
and
Warner Bros. Discovery
on the heels of the trio unveiling plans for a streaming platform earlier in the month. The suit said the companies have acted in a way that results in the “extreme suppression of competition in the U.S. sports-focused streaming market and significant harm to both Fubo and consumers.”

Warner Bros. declined to comment. Barron’s has reached out to Disney’s ESPN and Fox for comment but has yet to receive a reply from either.

Write to Emily Dattilo at [email protected]