Fubo posts revenue growth after Hulu + Live TV merger, reports $19m net loss
Streaming group says pro forma EBITDA turned positive as subscriber base reaches 6.2 million in North America
Fubo reported revenue growth in the first quarter of fiscal 2026 following its merger with Hulu + Live TV, while posting a net loss and highlighting progress on profitability.
The company said North America revenue rose to $1.543 billion, up from $1.106 billion in the same period a year earlier. On a pro forma basis, which reflects the combined business as if the merger had occurred earlier, North America revenue reached $1.675 billion and global revenue was $1.683 billion.
Fubo reported a net loss of $19.1 million for the quarter and a pro forma net loss of $46.4 million. The company said pro forma adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) were positive $41.4 million.
Fubo ended the quarter with $458.6 million in cash and 6.2 million subscribers in North America.
“2025 marked a year of transformation for Fubo as we completed a monumental business combination with Hulu + Live TV,” said David Gandler, co-founder and chief executive. “We set out on a mission to enhance consumer choice and expand programming flexibility by tapping into our collective strengths.”
The company said it remains focused on delivering value across its flagship Fubo and Hulu + Live TV brands.
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Fubo also announced a reseller and marketing agreement with ESPN to expand the reach of its services. Under the terms, Fubo Sports—including ESPN Unlimited as well as FOX and CBS programming—will be offered for purchase directly through ESPN’s commerce platform, subject to final agreements.
Fubo said ESPN will also promote its streaming services across its digital properties.
The Recap
- Fubo reported North America Q1 revenue of $1.543 billion.
- Pro forma adjusted EBITDA was positive $41.4 million.
- Fubo and ESPN plan a reseller arrangement, subject to agreements.
