Shares of FuboTV tumbled 11.0% in early trading after the company published its Q3 fiscal 2026 results before markets opened. While several profitability measures exceeded consensus, revenue came in slightly below analyst forecasts and subscriber momentum remained limited.
FuboTV reported third-quarter revenue of $1.48 billion, a 35.8% increase from the year-ago quarter, but short of the Wall Street estimate of $1.50 billion. The roughly 1.1% revenue miss was the focal point for investors even as the company delivered a GAAP loss per share of $0.25, a meaningful beat versus the consensus estimate of -$0.38.
On the profitability front, Adjusted EBITDA reached $19.14 million for the quarter, topping estimates of $12.84 million. Despite this positive surprise on adjusted profitability, the company’s Adjusted EBITDA was lower than pro forma Adjusted EBITDA of $31.0 million in Q3 fiscal 2025, reflecting a year-over-year deterioration that weighed on sentiment.
Subscriber metrics were another area of concern. Total North America subscribers increased to 5.75 million from 5.63 million in Q3 fiscal 2025, representing 2% year-over-year growth. The modest subscriber expansion occurred despite the company’s access to major sports content during the period, and investors flagged the limited momentum as a near-term headwind for revenue progression.
Management offered full-year Adjusted EBITDA guidance centered on a $95 million midpoint, only modestly higher than the analyst consensus of $92.32 million, leaving little incremental upside in the outlook. The results were released ahead of the opening bell and followed by a conference call hosted by CEO Alisa Bowen and CFO John Janedis to review the quarter and provide a business update.
Market context did little to cushion the decline. The S&P 500, Dow Jones and Nasdaq all traded higher on the day, indicating the stock’s drop was driven by company-specific reaction to the earnings report rather than broader equity weakness. FuboTV’s share price had already been under pressure year-to-date as investor expectations were recalibrating around a recent leadership change and the ongoing integration with Disney following that company’s acquisition of a majority stake.
Liquidity remains a mitigating factor for the company. FuboTV concluded the quarter with $236.4 million in cash, cash equivalents and restricted cash on the balance sheet, providing some short-term funding reassurance. Nevertheless, that cash position did not prevent the market from reacting sharply to the headline revenue miss, limited subscriber gains, and the sequential decline in Adjusted EBITDA versus the prior-year period.
Conference call: CEO Alisa Bowen and CFO John Janedis reviewed the results and delivered a business update following the earnings release.