Overview
- Versant reported second-quarter revenue of $1.64 billion and net income of $211 million, with EPS of $1.49, and the results beat Wall Street estimates on the top and bottom lines.
- The company raised full-year 2026 guidance to $6.2 billion–$6.45 billion in revenue and $1.9 billion–$2.05 billion in adjusted EBITDA based on first-half momentum.
- Linear distribution revenue fell about 6.3% as pay-TV subscriber losses continued while platforms revenue grew 0.8 overall and 9.3% when excluding the divested SportsEngine business.
- Management detailed moves to shift away from the cable bundle by expanding digital offerings, launching an ad-supported Fandango streaming service, and developing direct-to-consumer products for MS NOW and CNBC.
- Versant completed the Full Swing acquisition, finished a $100 million accelerated share repurchase with another $100 million planned, and declared a quarterly dividend of $0.375 to return capital to shareholders.