FuboTV stock soars amid robust growth and ambitious future plans By Investing.com

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<p>In recent news, FuboTV (NYSE:), a sports-focused subscription video on demand (SVOD) service, has seen its stock price surge by an impressive 97% from its 52-week low of $0.96 to $2.49 as of Friday. This significant increase is largely due to the company’s strong growth and ambitious future targets, including its aim to achieve positive cash flow by Fiscal Year 2025.</p>
<p>Despite operating in an industry teeming with competition from major players such as Netflix (NASDAQ:), Disney, Amazon (NASDAQ:), and AT&amp;T (NYSE:), FuboTV has demonstrated significant growth potential. Its Q2 results revealed a revenue growth of 41%, amounting to $312.7 million, an acceleration from the previous quarter’s growth of 34%.</p>
<p>Alongside this, FuboTV reported a 23% increase in subscribers to 1.167 million, and a 13% boost in average revenue per user (ARPU) to $81.62 – a new record for the company. These figures indicate strong consumer demand for FuboTV’s unique sports-oriented live SVOD model. In addition, the company’s North American segment reported revenues of $305 million, surpassing management’s previous guidance of $295 million.</p>
<p>The company’s Q2 2023 adjusted EBITDA margin improved from -31.6% to -9.8%, signaling scalability of its business model despite previous concerns. Furthermore, the operating loss for the quarter was reported at $52.5 million, a marked improvement from last year’s loss of $91.4 million.</p>
<p>As of Q2 end, FuboTV held $300 million in cash, cash equivalents, and restricted cash. The current stock price represents 0.6 times the midpoint of management’s projected revenues for the current year.</p>
<p>Wall Street consensus rating for FuboTV, based on one Buy and three Holds assigned in the past three months, indicates a 60.6% upside potential at a $4.00 average stock forecast.</p>
<p><em>This article was generated with the support of AI and reviewed by an editor. For more information see our T&amp;C.</em></p>
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