Versant raises 2026 outlook after platforms gains and steadier advertising
Versant lifted its revenue and adjusted EBITDA targets after Q2 platforms growth and a smaller advertising decline, despite pay-TV pressure.
By Daniel Okafor · Business Editor
2 min read
Versant raises 2026 outlook after second-quarter results showed growth in its platforms unit and a slower decline in advertising sales. The company now forecasts 2026 revenue of $6.2 billion to $6.45 billion and adjusted EBITDA of $1.9 billion to $2.05 billion, CNBC reported.
The revised ranges add $50 million to both the low and high ends of Versant’s earlier revenue forecast of $6.15 billion to $6.4 billion. They also raise the adjusted EBITDA range by $50 million at each end from the prior $1.85 billion to $2 billion outlook, according to a syndicated earnings-call summary published by Yahoo Finance.
Why did Versant raise its 2026 outlook?
Versant pointed to continued progress in its platforms business, which includes Fandango and GolfNow, as well as better advertising trends. Platforms revenue rose 0.8% from a year earlier to $225 million in the quarter ended June 30; excluding the divestiture of SportsEngine, the increase was 9.3%, CNBC reported.
The company said Fandango benefited from more movie-ticket and video-on-demand transactions. GolfNow produced higher revenue from bookings, payments and subscriptions, according to CNBC.
Advertising revenue was $423 million, down 0.6% year over year. That remained a decline, though it was less severe than the drop recorded in the comparable period a year earlier, CNBC reported. Versant attributed the improvement to higher ratings at its news- and sports-focused networks.
Quarterly results still show pay-TV pressure
Total second-quarter revenue fell 3.8% to $1.64 billion, while net income attributable to Versant declined 30% to $211 million, or $1.49 a share. Revenue exceeded the $1.62 billion average analyst estimate and earnings per share topped the $1.35 estimate, based on LSEG data cited by CNBC.
Its linear-TV business generated $954 million in revenue, down 6.3% as subscribers declined. More than 80% of Versant’s revenue still comes from pay TV, CNBC reported, leaving the company exposed to continued pressure on the traditional TV bundle even as it develops digital and transactional businesses.
Reported adjusted EBITDA fell 8.9% to $624 million. Versant said adjusted EBITDA measured on a stand-alone basis, intended to compare the current company with the pre-spin portfolio, increased 3%; it cited lower programming expenses and other cost reductions that offset revenue declines.
Versant also kept its quarterly dividend at 37.5 cents a share and completed a $100 million accelerated share repurchase, according to CNBC. CNBC disclosed that Versant Media Group is its parent company.
This story draws on original reporting from CNBC.