Summary by Futu AI
FuboTV reported strong Q3 2024 results with total revenue growing 20.3% year-over-year to $386.2 million, driven by North America revenue growth of 20.7%. The company's net loss from continuing operations improved by $29.8 million to $54.7 million, while Adjusted EBITDA saw a $33.8 million improvement. North American subscribers increased 9.2% YoY to 1.61 million.The company made significant product innovations, including launching upsell capabilities through Free Tier and deploying enhanced merchandising features. Notably, upfront advertising commitments for 2024-2025 increased over 40% compared to the previous season. The Fubo Sports channel reached profitability in Q3, with expanded distribution to Amazon's Prime Video in Canada.Looking ahead, FuboTV updated its FY 2024 guidance, projecting North America subscribers of 1.67-1.71 million (4% YoY growth) and revenue of $1.58-1.60 billion (19% YoY growth). The company remains committed to achieving profitability in 2025, supported by ongoing operational efficiencies and strategic growth initiatives.
