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Fubo Beats Wall Street Q2 Expectations Ahead Of Key Hearing In Antitrust Lawsuit
Streaming pay-TV operator Fubo reported upbeat second-quarter results as its lawsuit against Disney, Fox and Warner Bros. Discovery began in New York.
Streaming pay-TV operator Fubo beat Wall Street estimates in the second quarter, reporting a loss of 8 cents a share and $382.7 million in total revenue. The suit claims that the media companies’ colluded and used their market leverage to plan a streaming joint venture, Venu Sports, that would undercut Fubo. In the company’s quarterly shareholder letter, it noted the lawsuit, saying it had been filed “in response toanticompetitive practices by Disney, Fox, and Warner Brothers Discovery harming Fubo, industrycompetition, and consumers.”
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