Fubo Group (03738) performance exploded, net profit increased by more than 93%, and platform computing power services opened a second growth curve

The Zhitong Finance App learned that on August 28, Fubo Group (03738) announced the results for the six months ended June 30, 2026. In the first half of this year, Fubo Group achieved revenue of HK$1,805 million, up 23.97% year on year; gross profit of HK$810 million, up 26% year on year, gross margin reached 44.9%; profit for the period was HK$195 million, up 92.7% year on year, and profit margin reached 10.8%. During the reporting period, while maintaining steady growth in its core business, Fubo's AI content-related service capabilities went from layout to implementation. Revenue from subscription services was HK$718 million, up 17.7% year on year, accounting for 39.8% of total revenue; revenue from value-added and other services was HK$1,087 million, up 28.5% year on year, accounting for 60.2% of total revenue.

During the reporting period, the company's layout in the field of AI content services went from planning to implementation: the DreamMaker platform's computing power service revenue started from zero and reached a scale of 10 million US dollars, the scale of AI-related active assets managed by the group increased dramatically, and completed the distribution of the first film and television copyright cash flow RWA project under the Hong Kong compliance framework. It is worth noting that during the reporting period, AI-related revenue driven by the DreamMaker and Max platforms was generated for the first time, mainly including platform computing power service revenue generated by creators using multi-modal models on the platform and monetization revenue generated by Fubo's authorization and management of such assets, marking that Fubo Group's AI creation platform has entered an early commercialization stage from product construction and user verification. The company will continue to improve creators' ecology, model supply and commercial transformation capabilities.

Fubo Group maintains the collaborative promotion of the two core markets of China and the US. Based on the core capabilities of digital authorization, it relies on digital authorization, content recognition and global platform operation capabilities to expand service scenarios in combination with the characteristics of the content industry in different regions. Both local businesses have further extended from traditional film and television content to AI-generated content, music, short dramas, and platform-level governance, and improved service efficiency through commercialization and automation tools. Among them, revenue from the US and other business regions reached HK$927 million, up 27.1% year on year; revenue from the China business region was HK$888 million, up 20.9% year on year.

At the level of R&D investment, Fubo Group promoted the commercialization of multiple AI native operation tools, extending AI capabilities from content recognition to rule configuration, data collection and business decision-making. R&D expenses reached HK$189 million, an increase of 15.4% over the previous year.

Taken together, Fubo Group's steady financial performance has verified its strong monetization capabilities in the AI era of the core model of “content authorization and monetization+AI content service”. At the same time, the company's AI computing power service was successfully implemented and the second growth curve began. Fubo Group is expected to further open up the growth ceiling with its first-mover advantage.