FuboTV shares soar 9% on earnings beat, robust growth

), a leading sports-first live TV streaming platform, reported a narrower-than-expected loss for the first quarter, sending its shares up 9% in response to the earnings beat.

The company's North American operations saw significant year-over-year growth, with a 24% increase in total revenue and an 18% rise in paid subscribers. FuboTV's ad revenue in the region also grew by 21% compared to the same quarter last year. The average revenue per user in North America was up 10% YoY, reaching $84.54.

David Gandler, co-founder and CEO of FuboTV, expressed confidence in the company's trajectory, stating, "Our results further underscore continued solid execution on our long-term strategy." He also emphasized the company's commitment to providing consumers with choice and fair pricing in a competitive streaming marketplace, referencing the ongoing antitrust lawsuit against the proposed sports streaming joint venture by major media companies.

FuboTV's balance sheet remains robust, ending the quarter with $175 million in cash, cash equivalents, and restricted cash. The company believes it has sufficient liquidity to fund its operations and reach its 2025 profitability goal, barring any potential impact from the joint venture's launch.

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