Live sports and TV streaming service fuboTV (NYSE: FUBO) missed Wall Street’s revenue expectations in Q2 CY2026, but sales rose 35.8% year on year to $1.48 billion. Its GAAP loss of $0.25 per share was 34.2% above analysts’ consensus estimates.
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fuboTV (FUBO) Q2 CY2026 Highlights:
- Revenue: $1.48 billion vs analyst estimates of $1.50 billion (35.8% year-on-year growth, 1.1% miss)
- EPS (GAAP): -$0.25 vs analyst estimates of -$0.38 (34.2% beat)
- Adjusted EBITDA: $19.14 million vs analyst estimates of $12.84 million (1.3% margin, 49% beat)
- EBITDA guidance for the full year is $95 million at the midpoint, above analyst estimates of $92.32 million
- Operating Margin: -1.8%, up from -3.5% in the same quarter last year
- Free Cash Flow was -$7.48 million compared to -$41.38 million in the same quarter last year
- Domestic Subscribers: up 4.39 million year on year
- Market Capitalization: $281.2 million
Company Overview
Originally launched as a soccer streaming platform, fuboTV (NYSE: FUBO) is a video streaming service specializing in live sports, news, and entertainment content.
Revenue Growth
A company’s long-term sales performance is one signal of its overall quality. Any business can put up a good quarter or two, but the best consistently grow over the long haul. Thankfully, fuboTV’s 68.7% annualized revenue growth over the last five years was exceptional. Its growth beat the average consumer discretionary company and shows its offerings resonate with customers.
We at StockStory place the most emphasis on long-term growth, but within consumer discretionary, a stretched historical view may miss a company riding a successful new product or trend. fuboTV’s recent performance shows its demand has slowed significantly as its annualized revenue growth of 20.2% over the last two years was well below its five-year trend. 
We can better understand the company’s revenue dynamics by analyzing its number of domestic subscribers and international subscribers, which clocked in at 5.75 million and 356,000 in the latest quarter. Over the last two years, fuboTV’s domestic subscribers averaged 122% year-on-year growth. On the other hand, its international subscribers averaged 7.6% year-on-year declines. 
This quarter, fuboTV pulled off a wonderful 35.8% year-on-year revenue growth rate, but its $1.48 billion of revenue fell short of Wall Street’s rosy estimates.
Looking ahead, sell-side analysts expect revenue to grow 13.7% over the next 12 months, a deceleration versus the last two years. Despite the slowdown, this projection is above the sector average and implies the market sees some success for its newer products and services.
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Operating Margin
fuboTV’s operating margin has been trending up over the last 12 months, but it still averaged negative 2.5% over the last two years. This is due to its large expense base and inefficient cost structure.
In Q2, fuboTV generated a negative 1.8% operating margin.
Earnings Per Share
We track the long-term change in earnings per share (EPS) for the same reason as long-term revenue growth. Compared to revenue, however, EPS highlights whether a company’s growth is profitable.
Although fuboTV’s full-year earnings are still negative, it reduced its losses and improved its EPS by 42.6% annually over the last five years. The next few quarters will be critical for assessing its long-term profitability.
In Q2, fuboTV reported EPS of negative $0.25, down from negative $0.02 in the same quarter last year. Despite falling year on year, this print easily cleared analysts’ estimates. Over the next 12 months, Wall Street expects fuboTV to improve its earnings losses. Analysts forecast its full-year EPS will improve from negative $0.62 to negative $0.36.
Key Takeaways from fuboTV’s Q2 Results
It was good to see fuboTV beat analysts’ EPS expectations this quarter. We were also excited its EBITDA outperformed Wall Street’s estimates by a wide margin. On the other hand, its revenue slightly missed. Overall, we think this was a decent quarter with some key metrics above expectations. The market seemed to be hoping for more, and the stock traded down 5.8% to $9.01 immediately after reporting.
Big picture, is fuboTV a buy here and now? When making that decision, it’s important to consider its valuation, business qualities, as well as what has happened in the latest quarter. We cover that in our actionable full research report which you can read here (it’s free).
