FuboTV’s stock (NYSE: FUBO) has delivered impressive gains of 107.80%, along with increasing price volatility in early 2025, driven by a combination of strategic partnerships, financial milestones, and shifting market sentiment. The YTD performance only tells a fraction of the story however, with a 46% pullback from early January leaving the stock in a bearish trend.
Now with Fubo’s earnings coming before the market open, we take a look at both what we can expect, along with the recent events that have driven price action.
Analysts are anticipating revenue of $445.17M and an EPS loss of $0.16. Key focus areas for investors include will likely include SAC (Subscriber acquisition costs), ARPU (average revenue per user) expansion, and international growth trends.
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The company’s guidance for 2025 profitability will also come under the microscope, particularly given its projection of $6.5B–$7B in 2026 revenue. A miss on these metrics could exacerbate the stock’s recent bearish trend, which saw a -3.23% decline on April 30, 2025, closing at $3.00.
FuboTV reported strong top-line growth in 2024, with North American revenue reaching $1.59 billion (up 19% YoY) and paid subscribers climbing to 1.676 million. Average revenue per user hit a record $87.90 in Q4. Notably, the company achieved its first quarter of positive free cash flow and posted a $100 million+ annual improvement in Adjusted EBITDA for the second consecutive year. Yet, profitability remains elusive, with a trailing twelve-month diluted EPS of -$0.54 and a profit margin of -10.6%. Net income for the period stood at -$172.25 million, highlighting persistent cost pressures, especially from escalating sports content licensing fees.
FuboTV’s guidance for Q1 2025 projects revenue of $400–$410 million but anticipates a decline in North American subscribers to 1.43–1.46 million. The drop, attributed to the non-renewal of a key content partnership with TelevisaUnivision, is part of a broader strategy to prioritize profitability over raw subscriber growth.
What Has Driven Price Action so far?
The most transformative event for FuboTV in 2025 has been its business combination agreement with The Walt Disney Company’s Hulu + Live TV. Announced in January, this merger will see Disney controlling 70% of the combined entity, with FuboTV retaining a 30% stake. The partnership instantly vaulted the new platform to the position of the second-largest digital pay-TV provider in the U.S., boasting approximately six million subscribers.
The market reaction was swift and dramatic: FUBO shares soared 200% in pre-market trading following the announcement, as investors bet on the synergies stemming from Disney’s content powerhouse and FuboTV’s sports-centric user base. The deal also resolved ongoing litigation between FuboTV and Disney, Fox, and Warner Bros. Discovery, removing a significant legal overhang.
Analysts are optimistic that the merger could drive FuboTV’s revenue to $6.5–$7 billion by 2026, with further upside possible by 2028. However, the euphoria has been tempered by concerns about integration risks and shareholder dilution, evidenced by a 20.88% stock drop on February 28, 2025, following the release of Q4 2024 results and conservative 2025 guidance.
To differentiate itself in an increasingly crowded streaming landscape, FuboTV has doubled down on sports content and technological enhancements. The recent partnership with Rangers Sports Network gives FuboTV exclusive access to Texas Rangers baseball games across multiple states, while the Fubo Sports linear network’s expansion to over-the-air stations has extended its reach to 12 million traditional TV households.
On the technology front, features like AI-powered Instant Headlines and personalized game alerts are designed to boost engagement and reduce churn. Internationally, FuboTV’s Molotov platform in Spain and France contributed 12% of total revenue in 2024, signaling potential for further growth outside North America.
The upcoming Q1 earnings report and the execution of its Disney partnership will likely determine whether FUBO can evolve from a speculative play into a sustainable growth story. Markets must weigh the company’s innovative sports-first platform and strategic alliances against the realities of thin margins, subscriber churn, and sector volatility.
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