Versant shares surge 10% after company raises 2026 outlook on platforms, advertising momentum

Versant Media Group raised its full-year guidance on Thursday, boosted by momentum in its digital brands like Fandango and GolfNow, as well as what executives referred to as "strength" in its overall business model.

The company now expects total revenue for 2026 of $6.2 billion to $6.45 billion and adjusted earnings before interest, taxes, depreciation and amortization of $1.9 billion to $2.05 billion.

This marks Versant's third earnings report since it was spun out from Comcast's NBCUniversal at the start of the year. The company, which includes a portfolio of pay TV networks including CNBC, MS NOW and The Golf Channel began trading as a public company in January.

Versant's earnings once again showcased that live sports and news grab the most viewers and advertising dollars for traditional TV, despite ongoing pressure on the bundle as it loses customers to streaming alternatives.

The company beat Wall Street expectations on the top and bottom lines. Versant shares gained more than 10% in morning trading Thursday.

Here's how Versant performed for its second quarter, ended June 30, compared with Wall Street's estimates, according to LSEG:

Revenue for linear TV, which also includes channels USA Network, Syfy, Oxygen and E!, was down 6.3% during the quarter to $954 million, due to subscriber declines.

CEO Mark Lazarus said in a release on Thursday the company completed carriage agreements "with two large distribution partners, one in the U.S. and one in Canada." Many of Versant's distribution deals were locked up when it was still under NBCUniversal's ownership.