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Versant earnings beat expectations as digital platforms drive growth
Versant posts quarterly earnings above expectations and reaffirms 2026 guidance, with digital platform revenue up nearly 10%.
Key points
- Net income was $47 million, or 34 cents per share, down from $80 million, or 56 cents per share, a year earlier.
- Revenue fell slightly to $1.59 billion from $1.66 billion, and linear TV revenue decreased 5.8% to $935 million.
- Versant now expects free cash flow to exceed its prior range of $1 billion to $1.2 billion and announced a $100 million buyback.
Why it matters. Versant's CEO said 75% of network subscribers are now under contract into 2028 and beyond, giving the company clear visibility going forward.
Versant Media reported third-quarter earnings and revenue on Tuesday that came in above Wall Street forecasts, and reaffirmed its full-year 2026 guidance. Adjusted EBITDA was $353 million, against StreetAccount estimates of $305 million. Digital platform revenue, including Fandango, rose nearly 10% to $245 million, while advertising slipped to $373 million, down 5.3%, which the company blamed mainly on last year's Ryder Cup.
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Versant earnings beat expectations as digital platforms drive growth
Versant posted third-quarter earnings that beat Wall Street expectations and reaffirmed its full-year guidance. Versant Media celebrates its initial public offering at the Nasdaq, Jan. 5, 2026. Versant Media Versant Media on Tuesday reported quarterly earnings and revenue that beat expectations and reaffirmed its full-year 2026 guidance, citing strength across its portfolio and growth in its platforms revenue. The media company reported $245 million in revenue from digital platforms including Fandango, marking a nearly 10% year-over-year increase. Versant said Fandango saw "significant growth" in ticketing revenue in the third quarter, notching its highest level since the pandemic. Advertising revenue, however, slipped to $373 million during the period, down 5.3% from last year, primarily due to the impact of last year's Ryder Cup, according to the company. The Versant portfolio includes CNBC, MS NOW, Golf Channel and other cable and digital properties. Here's how the company performed in its third quarter , compared with what Wall Street was expecting, based on a survey of analysts by LSEG: Earnings per share: 34 cents vs. 5 cents expected Revenue: $1.59 billion vs. $1.57 billion expected Versant completed four major distribution renewals this year following its spinoff from Comcast's NBCUniversal. "We understood the questions raised at the time of the spin about our ability t.