FuboTV reports Q1 EPS (11c), consensus (21c)

Reports Q1 revenue $402.35M, consensus $381.3M. The company said, “Fubo again exceeded expectations in North America, closing the first quarter with double digit year-over-year (YoY) growth, delivering 1.511 million paid subscribers, up 18% YoY, and $394 million in total revenue, up 24% YoY. The Company continued to accelerate YoY ad revenue growth, increasing 21% in the first quarter compared to prior year. Additionally, Fubo delivered $84.54 average revenue per user (ARPU), up 10% YoY. In the Rest of World (ROW), the Company delivered 397,000 paid subscribers, up 5% YoY, and $8.4 million total revenue, up 7% YoY, during the quarter. ARPU reached $7, up 7% YoY. ROW includes the results of Molotov, the French live TV streaming service acquired by Fubo in December 2021. Fubo achieved 7% gross margin (globally), representing a 588 (bps) YoY improvement.”