FUBOTV INC Reports Earnings Results for FY2023 Q2 as of June 30 2023
August 6, 2023
🌥️Earnings Overview
On August 4 2023, FUBOTV INC ($NYSE:FUBO) reported their financial results for the second quarter ending June 30 2023. Total revenue for Q2 2023 was USD 312.7 million, a 40.9% increase from the same period in the prior year. Net income, however, decreased from -116.1 million to -49.9 million year-on-year.
Market Price
FUBOTV INC, a streaming media company, reported its financial results for the second quarter ended June 30 2023 (Q2 FY2023). On Friday, the company’s stock opened at $3.9 and closed at $3.2, down by 1.6% from its previous closing price of $3.2. The company’s performance was driven by strong growth in its subscriber base and increased sales of digital content.
Looking ahead, FUBOTV expects to continue its strong performance in the coming quarters and remain a leader in the streaming media industry. The company is also confident that it has enough cash and financial resources to meet its long-term goals. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Fubotv Inc. More…
| Total Revenues | Net Income | Net Margin |
| 1.18k | -438.18 | -26.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Fubotv Inc. More…
| Operations | Investing | Financing |
| -248.17 | 86.07 | 186.27 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Fubotv Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.24k | 830.14 | 1.44 |
Key Ratios Snapshot
Some of the financial key ratios for Fubotv Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 176.8% | – | -25.2% |
| FCF Margin | ROE | ROA |
| -21.9% | -42.8% | -15.0% |
Analysis
GoodWhale’s analysis of FUBOTV INC reveals that the company has a Star Chart classification of ‘Cheetah’, meaning it has achieved high revenue or earnings growth but is considered less stable due to lower profitability. According to our health score, FUBOTV INC has a score of 2/10 in terms of cashflows and debt and is less likely to safely ride out any crisis without the risk of bankruptcy. Our analysis also reveals that FUBOTV INC is strong in terms of growth but weak in terms of assets, dividends, and profitability. Given this information, investors looking for high-growth companies may be interested in FUBOTV INC, although they should be aware that the company’s stability may be lower than other investments. Furthermore, given their low health score, investors will need to be extra vigilant in monitoring their investment in FUBOTV INC to ensure that any risks are managed appropriately. More…
Peers
The Walt Disney Co, Netflix Inc, Roku Inc, are all in competition with each other. They all offer different streaming services that allow users to watch TV shows, movies, and other videos. FuboTV Inc is a company that provides a streaming service for live sports. It has been gaining in popularity due to its unique offering.
– The Walt Disney Co ($NYSE:DIS)
Walt Disney Company is an American entertainment company. The company operates in four business segments: Media Networks, Parks and Resorts, Studio Entertainment, and Consumer Products & Interactive Media.
The company has a market capitalization of 177.44 billion as of 2022 and a return on equity of 4.53%. The company’s media networks segment includes cable and broadcast television networks, television production and distribution, and radio networks and stations. The company’s parks and resorts segment owns and operates theme parks, resorts, and vacation clubs. The company’s studio entertainment segment produces and acquires live-action and animated motion pictures, direct-to-video content, musical recordings, and live stage plays. The company’s consumer products & interactive media segment licenses the company’s trade names, characters, and visual and literary properties across the globe.
– Netflix Inc ($NASDAQ:NFLX)
Netflix, Inc. is an American entertainment company that specializes in streaming television and movies. It has a market cap of 109B as of 2022 and a Return on Equity of 22.38%. The company was founded in 1997 and is headquartered in Los Gatos, California. Netflix offers its services to subscribers in over 190 countries. The company has over 167 million subscribers worldwide.
– Roku Inc ($NASDAQ:ROKU)
Roku Inc is a publicly traded company that designs and manufactures streaming devices for use with the Roku platform. The company was founded in 2002 and is headquartered in Los Gatos, California.
Roku Inc has a market cap of 7.25B as of 2022. The company’s return on equity is -0.84%. Roku Inc designs and manufactures streaming devices for use with the Roku platform. The company was founded in 2002 and is headquartered in Los Gatos, California.
Summary
FUBOTV INC reported strong second quarter financial results for the period ending June 30 2023, with total revenue of USD 312.7 million representing a 40.9% year-on-year growth.
However, net income was reported to be USD -49.9 million, a decrease from the prior year of -116.1 million. While the revenue growth is encouraging, investors should bear in mind that FUBOTV INC is still reporting negative net income indications that the company is not yet profitable. With their growing user base and strong revenue growth, FUBOTV INC appears to have potential for future earnings growth. Investors should focus on the company’s cash flow, operating margins and debt levels when considering an investment in FUBOTV INC.
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