NEW YORK, August 8, 2026, 14:13 EDT
- Fubo reported adjusted EBITDA of $98.2 million over the first nine months. Based on its updated forecast, the company projects a fourth-quarter outcome ranging from an $8.2 million loss to a $1.8 million profit.
- North American subscriber numbers increased by 2%. Global revenue on a comparable basis was almost unchanged, and adjusted EBITDA declined by 38%.
- Shares rose 4.6% last week; however, they ended 13.1% under Wednesday’s earnings-day close.
FuboTV Inc. NYSE:FUBO increased its minimum profit projection for 2026, though the math suggests a lackluster end to the year. The company’s reported quarterly totals amount to $98.2 million in adjusted EBITDA for the first nine months. The forecasted range of $90 million to $100 million signals the fourth quarter is likely to hover around break-even.
This forms the main investor benchmark. Fubo needs to demonstrate that customer growth driven by events can maintain profitability even following the uptick in viewership during the World Cup.
Paid subscriptions in North America climbed to an all-time high of 5.75 million, marking a 2% increase. Comparable revenue for the region remained nearly flat at $1.474 billion. An approximate revenue-per-ending-subscriber figure declined 2.2% to $256 per quarter, although this metric is not the company’s reported ARPU.
| Q3 metric | FY2026 | FY2025 pro forma | Change |
|---|---|---|---|
| Global revenue | $1,481.7 million | $1,483.8 million | -0.1% |
| North America paid subscribers | 5.75 million | 5.63 million | +2.1% |
| Net loss | $25.7 million | $72.0 million | Net loss reduced by 64.3% |
| Adjusted EBITDA | $19.1 million | $31.0 million | Down 38.4% |
| North America advertising revenue | $108.9 million | $109.4 million | -0.5% |
Fubo reports prior-year results on a pro forma basis after its merger with Hulu + Live TV.
The net loss narrowed significantly. However, there was no gain in operating leverage. The adjusted EBITDA margin declined to 1.3% from 2.1% on a comparable revenue basis, with cash at quarter-end totaling $236.4 million.
The outlook for the full year provides minimal leeway for the fourth quarter:
| Fiscal period | Adjusted EBITDA |
|---|---|
| Q1 FY2026, pro forma | $41.4 million |
| Q2 FY2026 | $37.7 million |
| Q3 FY2026 | $19.1 million |
| Total for first nine months | $98.2 million |
| FY2026 outlook | $90 million-$100 million |
| Q4 projected range | -$8.2 million to +$1.8 million |
Fubo presents figures prior to Q2 2026 on a pro forma basis. The company increased just the bottom end of its guidance, which had been set at $80 million.
Distribution performance improved. ESPN’s “Where to Watch” referrals showed a higher conversion of free trials to paid accounts compared to alternative sources. Fubo additionally noted positive initial retention rates for these users. SEC
Advertising revenue from the World Cup was triple that of the 2022 edition, yet overall North American advertising revenue declined by 0.5%. Fubo reported that Disney’s advertising technology increased both inventory fill rates and pricing.
The Walt Disney Co. NYSE:DIS is now central to the plan. Fubo joined Disney as an affiliate following its merger with Hulu + Live TV in October 2025. The merged entity includes Hulu + Live TV, Fubo, and France-headquartered Molotov.
Alisa Bowen, who previously served as president of Disney+, stepped into the role of Chief Executive on July 10. Bowen stated that her confidence in Fubo’s “differentiation and unique growth prospects” has strengthened following her appointment. She intends to deliver a wider strategic update at the earnings call in November. Reuters
In an earnings-day conversation, Bowen addressed YouTube TV, operated by Alphabet Inc. NASDAQ:GOOGL. The most recent numbers maintain Fubo’s current priority for investors on driving monetization and maintaining its subscriber base.
The market responded with sharp volatility:
| Session | Closing price | Close-to-close move |
|---|---|---|
| Friday, July 31 | $8.85 | — |
| Monday, August 3 | $9.61 | up 8.6% |
| Tuesday, August 4 | $9.55 | down 0.6% |
| Wednesday, August 5 — earnings | $10.66 | rallied 11.6% |
| Thursday, August 6 | $8.99 | fell 15.7% |
| Friday, August 7 | $9.26 | gained 3.0% |
| Full week | $8.85 to $9.26 | up 4.6% |
Fubo finished 13.1% lower compared to Wednesday’s close, although it posted a weekly increase. The Nasdaq Composite advanced 5.19% last week, the S&P 500 climbed 3.58%, and the Dow rose 2.96%. U.S. markets did not open on Saturday.
FactSet saw an increase in bullish analyst recommendations:
| Recommendation | One month ago | Current |
|---|---|---|
| Buy | 6 | 8 |
| Hold | 3 | 2 |
| Sell | 1 | 0 |
| Consensus | Overweight | Buy |
Analysts have set an average price target of $17, with projections spanning $12 to $23. This average suggests a potential 84% rise from Friday’s closing price. The wide range highlights significant uncertainty in the forecasts.
Fubo has no investor events scheduled for the upcoming week. Market participants will focus on changes to estimates and indications of customer retention following the tournament. U.S. consumer inflation figures for July are due Wednesday, with producer price data set for Thursday and retail sales on Friday.
Risks: Significant changes in results may occur due to subscriber retention, seasonal performance, content obligations, and the integration of Hulu. Fubo’s projected EBITDA figures use non-GAAP measures and do not include a full GAAP reconciliation.
