FuboTV Inc ( FUBO ) shares are trading higher Tuesday after the company announced preliminary results for the second quarter.

What Happened: Fubo said it expects to report second-quarter North America revenue of more than $365 million versus prior guidance of $345 million at the midpoint. The company anticipates second-quarter revenue in the rest of the world category to exceed $8.5 million versus prior guidance of $7 million at the midpoint.

North America paid subscribers are expected to exceed 1.35 million and paid subscribers in the rest of the world are expected to exceed 340,000.

Fubo expects to report a second-quarter net loss of approximately $8 million and positive adjusted EBITDA of at least $20 million, which would mark the company’s first quarter of positive adjusted EBITDA. Fubo expects to end the second quarter with at least $285 million in cash, cash equivalents and restricted cash.

Fubo is scheduled to release its second-quarter financial results before the market opens on Aug. 8. The company said it will refrain from providing guidance for future results while its proposed business combination with Hulu + Live TV is pending.

How To Buy FUBO Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Fubo's case, it is in the Communication Services sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

FUBO Price Action: Fubo shares were up 7.3% at $3.79 at the time of publication Tuesday, according to Benzinga Pro.

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