Fubo’s Disney Bet Hits First Test As Subscribers Slip But Revenue Hits Record
Fubo reported record quarterly revenue of $1.574 billion after merging with Disney’s Hulu + Live TV, but North American subscribers dropped to 5.7 million from 5.9 million. Net loss narrowed to $6.2 million from $40.9 million. Shares fell 4.73% on May 8 amid investor concerns over subscriber declines and a recent reverse stock split.