FuboTV cuts FY24 revenue view to $1.53B-$1.55B from $1.82B-$1.88B

Consensus $1.56B. The company said, “Fubo is projecting 1,675,000 to 1,695,000 subscribers, representing 4% YoY growth at the midpoint, and $1.525 to $1.545 billion total revenue, representing 15% YoY growth at the midpoint. Fubo’s projection of revenue growth outpacing subscriber growth reflects the Company’s expectation of continued ARPU expansion and improved unit economics. Subscriber growth reflects conservatism in the Company’s outlook and, in particular, exposure to potential industry volatility, as well as Fubo’s intention to maintain discipline in subscriber acquisition costs relative to monetization, but does not reflect any potential impact of the JV launch.”