FuboTV Inc. (FUBO  ) stock traded lower Wednesday after the live TV streaming company reported third-quarter fiscal 2026 results that topped earnings expectations but missed on revenue, while raising its full-year adjusted EBITDA outlook. The company reported a loss of 25 cents per share, narrower than the analyst consensus estimate for a loss of 37 cents. Revenue increased to $1.482 billion but came in below the Street estimate of $1.504 billion.

Despite the earnings beat and improved profitability, investors focused on the revenue miss and the company's cautious top-line growth, sending shares lower in premarket trading. The raised EBITDA outlook failed to offset concerns over revenue coming in below Wall Street expectations in an increasingly competitive live TV streaming market.

FuboTV Subscribers Grow, Loss Narrows

FuboTV reported a net loss of $25.7 million, improving from a net loss of $38.0 million a year earlier. Adjusted EBITDA totaled $19.1 million. Its cash, cash equivalents and restricted cash stood at $236.4 million at the end of the quarter.

North America revenue reached $1.474 billion, while paid subscribers increased 2% year over year to a record 5.75 million. Rest of World revenue totaled $7.8 million, with paid subscribers rising to 356,000 from 349,000 a year earlier. The company ended the quarter with $236.4 million in cash, cash equivalents and restricted cash.

CEO Highlights Sports, Advertising Momentum

CEO Alisa Bowen, who took the helm in July, said the company benefited from strong subscriber acquisition during major sporting events, including the NBA Finals and the FIFA World Cup 2026, while its advertising business improved following the integration with Disney Advertising.

Bowen said FuboTV plans to expand its programming packages, broaden distribution and continue investing in the user experience to drive future growth.

FuboTV Outlook

FuboTV raised its fiscal 2026 pro forma adjusted EBITDA guidance to a range of $90 million to $100 million from its previous outlook of $80 million to $100 million.

The company also reaffirmed its fiscal 2028 adjusted EBITDA target of at least $300 million, expects to generate positive free cash flow in fiscal 2027 and fiscal 2028, and maintained its forecast to end fiscal 2026 with at least $200 million in cash, cash equivalents and restricted cash.

FUBO Price Action: FuboTV shares were down 6.39% at $8.94 during premarket trading on Wednesday. The stock is trading near its 52-week low of $7.95, according to Benzinga Pro data.