Versant (VSNT) earnings Q1 2026
Versant Media Group On Thursday, it announced results for its latest quarter; this was his first time as an independent company after leaving the company. Comcast’s NBCUniversal and begins trading on Nasdaq earlier this year.
The report revealed continued pressure on the traditional pay-TV bundle but highlighted growth in the digital platform and licensing businesses.
Shares of Versant rose nearly 10% in premarket trading.
Linear distribution revenue for pay-TV networks, which includes CNBC, MS NOW and Golf Channel as well as USA, E!, Syfy and Oxygen, fell nearly 7% to $1.01 billion in the period. The company said this was due to subscriber declines, partially offset by rate increases.
Ad revenue for the first quarter fell 5% to $368 million; This was considered an improvement over the same period last year, which recorded a 12% decline.
Revenue from content licensing increased by 113.5% to $121 million. largely related to licensing The long-popular reality TV series “Keeping Up With the Kardashians” and other content on Disney’s Hulu.
Versant constantly asserts its strength in sports and news. The company on Thursday highlighted viewership increases for CNBC and MS NOW, as well as continued momentum for Golf Channel and other live sports and events across its networks.
More than 80% of Versant’s revenue comes from its pay-TV business. But executives told Wall Street it aims to eventually rebalance the revenue mix so that 50% comes from digital, platform, subscription, ad-supported and transactional businesses.
Versant reported first-quarter revenue from its platform business, which includes Fandango, GolfNow and some of its already launched direct-to-consumer units, rose 9.5% to $192 million.
“We are executing our strategy by expanding the reach of our brands, deepening our connection with audiences and scaling our digital platforms,” CEO Mark Lazarus said on Thursday’s earnings call. “This performance across platforms and our core brands strengthens our confidence in evolving our business over time and delivering long-term shareholder value.”
Total revenue for the period ending March 31 was $1.69 billion, down approximately 1% from the same quarter last year. Wall Street analysts surveyed by LSEG expected revenue of $1.62 billion.
Net income attributable to Versant fell 22% in the quarter to $286 million, or $1.99 per share; The company said this was due to lower revenue, higher utility costs and interest expenses following the separation from Comcast. This was partially offset by lower taxes in the quarter, he said.
Adjusted earnings before interest, taxes, depreciation and amortization fell 7% to $704 million compared to the same period last year.
Compared to stand-alone adjusted EBITDA, a metric for more directly comparing the performance of pre-spin portfolio companies to current results, adjusted EBITDA increased about 5%, Versant said. This was due to reduced entertainment program expenses and reduced selling, general and administrative costs, which offset revenue declines.
The company also maintained its commitment to return capital to its shareholders due to its light debt burden.
The company announced Thursday that it will distribute quarterly cash dividends of 37.5 cents each share for the second consecutive quarter. The new dividend will be paid on July 22 to shareholders of record as of the close of business on July 1.
Versant also announced Thursday that it expects to enter into a $100 million accelerated share repurchase agreement starting Friday, which it expects to be completed in the second quarter. Versant repurchased approximately 2.7 million shares of Class A common stock in the first quarter, with approximately $900 million remaining authorized as of March 31.
Disclosure: Versant is the parent company of CNBC.
