FuboTV ( FUBO ) stock gained on Friday after it reported earnings for the second quarter of 2025, but it has since reversed those gains and is now trading lower by 1%.

Revenue of the sports-first live TV streaming platform declined 2.8% year-over-year (Y/Y) to $379.97 million, topping the analyst consensus estimate of $353.77 million.

Adjusted EPS of 5 cents beat the analyst consensus of a one-cent loss. The company’s adjusted EBITDA margin stood at 5.4% versus (2.8)% Y/Y. 

Also Read: FuboTV’s Margin Gains, NFL Bundle Plan Keep Analyst Bullish Despite Subscriber Dip

North America Streaming revenue fell 3% year-over-year to $371.3 million. Paid subscribers also saw a decline, decreasing by 6.5% year-over-year to 1.36 million. Despite this drop, the subscriber count still managed to exceed the company’s preliminary estimates.

In the Rest of World, revenue was $8.7 million, a 4.7% Y/Y growth, and paid subscribers declined 12.5% Y/Y to 349,000.

As of June 30, FuboTV ( FUBO ) held $289.7 million in cash and equivalents. The company used $(37.7) million in free cash flow in the quarter, compared to $(35.3) million from a year ago.

Fubo filed a preliminary proxy statement seeking shareholder approval for its agreement with The Walt Disney Co. ( DIS ) to combine Fubo with Hulu + Live TV, targeting a closing in late 2025 or early 2026 pending regulatory and shareholder approvals.

The company remains committed to offering consumers diverse content at competitive prices, launching Fubo Sports in the coming weeks and introducing a Pay-Per-View option for both subscribers and non-subscribers.

Fubo continued investing in product and user experience, rolling out features like Catch Up to Live, Game Highlights, and Timeline Markers. It also diversified its content portfolio and expanded partnerships to enhance subscriber value.

“The second quarter of 2025 marked a pivotal milestone in Fubo’s business,” said David Gandler, co-founder and CEO of Fubo. “Our continued focus on delivering choice and flexibility to consumers positions us well to capitalize on emerging opportunities as the traditional content landscape continues to evolve.”

“We are pleased with our second quarter results including top-line outperformance,” said Edgar Bronfman Jr., executive chairman of Fubo. “We continue to innovate our sports entertainment streaming platform striving for unparalleled product quality and a frictionless content experience, and look forward to keeping shareholders updated on our progress.”

Fubo stock gained 194% year-to-date.

Price Action: Fubo stock is trading lower by 1.08% to $3.660 at last check Friday.

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