Versant raises 2026 outlook after platforms growth and steadier advertising
Versant lifted its 2026 revenue and adjusted EBITDA targets after Q2, while pay-TV subscriber losses continued to weigh on results.
By Dev Ramirez · Crypto Correspondent
· 3 min read
Versant raises 2026 outlook after reporting second-quarter results that showed underlying growth in its platforms business and a smaller decline in advertising revenue. For investors, the update points to progress in the company’s digital and transactional operations, though its larger pay-TV business is still shrinking.
Versant now expects 2026 revenue of $6.2 billion to $6.45 billion and adjusted EBITDA of $1.9 billion to $2.05 billion, CNBC reported. Adjusted EBITDA is a non-GAAP measure, meaning it is not calculated under standard U.S. accounting rules.
The new revenue range is $50 million higher at both its low and high ends than the $6.15 billion to $6.4 billion forecast reported after the first quarter. The adjusted EBITDA range also rose by $50 million at each end from $1.85 billion to $2 billion, according to a GuruFocus summary published by Yahoo Finance after Versant’s first-quarter report.
Why did Versant raise its 2026 outlook?
Versant cited first-half strength and continued growth in its business when it raised guidance, CNBC reported. The clearest segment-level improvement came from platforms, which include Fandango and GolfNow.
Platforms revenue totaled $225 million in the quarter ended June 30, up 0.8% from a year earlier. Excluding the effect of Versant’s sale of SportsEngine, platforms revenue increased 9.3%. The company attributed the gain partly to more Fandango movie-ticket and video-on-demand transactions, along with higher GolfNow bookings, payment revenue and subscriptions.
Advertising revenue was $423 million, down 0.6% year over year. That was still a decline, rather than growth, but CNBC reported that it was a better rate than in the comparable period a year earlier. The report attributed the improvement to higher ratings at Versant’s news- and sports-focused networks.
What is still weighing on Versant?
Linear-TV revenue, which includes the company’s traditional cable networks, fell 6.3% to $954 million as subscribers continued to leave pay-TV packages. More than 80% of Versant’s current revenue still comes from pay TV, the company has said, leaving that business central to its results even as it tries to expand digital, subscription, ad-supported and transactional revenue.
Total second-quarter revenue declined 3.8% to $1.64 billion. Net income attributable to Versant fell 30% to $211 million, or $1.49 a share, while adjusted EBITDA decreased 8.9% to $624 million, according to CNBC. Versant said the profit decline reflected lower revenue, costs of becoming a public company, separation-related interest expense and higher tax expense associated largely with the SportsEngine divestiture.
On a stand-alone adjusted EBITDA comparison that Versant said better aligns its pre-separation portfolio with current operations, the company reported a 3% year-over-year increase. CNBC reported that lower programming and other costs helped offset revenue declines in that comparison.
Versant’s reported $1.49 in earnings per share exceeded the $1.35 analyst estimate compiled by LSEG, while revenue of $1.64 billion was above the $1.62 billion estimate. The company was spun out of Comcast’s NBCUniversal at the start of 2026 and began trading publicly in January. CNBC, which reported the results, disclosed that Versant is its parent company.
This story draws on original reporting from CNBC.
