Fubo gains 7% amid revenue growth of 41%, narrower losses (NYSE:FUBO)

FuboTV stock (NYSE:FUBO) gained 7% Friday morning off second-quarter earnings where it beat expectations with a revenue surge and shaved losses nearly in half.

Revenues jumped 41% to $312.7M, paced by growth in its core home market of North America.

Meanwhile, with total operating expenses up just 17%, the company trimmed its net loss to $54.2M from a year-ago loss of $95M.

Earnings before interest, taxes, depreciation and amortization improved to -$30.5M from a prior-year -$70.1M.

“With an improving ad sales backdrop we remain on track to achieve our 2025 positive free cash flow target,” co-founder and CEO David Gandler said.

North American subscribers jumped 23% to 1.167M, and correlating with the big revenue growth, average revenue per subscriber in NA rose 13%, to $81.62.

In the rest of the world, subscribers rose 14% to 394,000, and ARPU there gained 16%, to $6.91.

Also, “The results for the quarter also marked a healthy year-over-year improvement in cash usage, demonstrating our focus on unit economics, cost control and profitability while strategically supporting our growth initiatives. In addition, we maintained a strong balance sheet and liquidity position, ending the quarter with $299.7M” in liquidity.

The company boosted its full-year North America outlook to 1.565M-1.585M paid subscribers (9% growth at the midpoint) and revenue of $1.26B-$1.28B — 29% growth at the midpoint. For rest of world, it sees subscribers of 380,000-400,000 and revenue of $29.4M-$33.4M.