Versant Media Group raised its full-year revenue and profit outlook on Thursday, as growth in its digital platforms helped cushion a continued decline in pay TV revenue.
For full-year 2026, Versant is guiding to total revenue between $6.2 billion and $6.45 billion, with adjusted EBITDA in the range of $1.9 billion to $2.05 billion
It maintained its free cash flow outlook of $1.0 billion to $1.2 billion. Versant posted second-quarter revenue of $1.64 billion, down 3.8% from $1.71 billion a year earlier. Net income attributable to Versant came in at $211 million, or $1.49 per diluted share, a 30% drop from $302 million, or $2.09 per share, in the year-ago quarter.
Versant pointed to a combination of weaker revenue, costs from operating as a standalone public company, interest obligations stemming from the Comcast split, and a larger tax bill driven by the SportsEngine divestiture as factors weighing on the bottom line. Adjusted EBITDA declined 8.9% to $624 million. The results beat Wall Street expectations, according to CNBC.