Versant Media on Tuesday reported quarterly earnings that beat expectations and reaffirmed its full-year 2026 guidance, citing strength across its portfolio and growth in its platforms revenue.
The media company reported $245 million in revenue from digital platforms including Fandango, marking a nearly 10% year-over-year increase. Versant said Fandango saw “significant growth” in ticketing revenue in the third quarter, notching its highest level since the pandemic.
Advertising revenue, however, slipped to $373 million during the period, down 5.3% from last year, primarily due to the impact of last year’s Ryder Cup, according to the company.
The Versant portfolio includes CNBC, MS NOW, Golf Channel and other cable and digital properties.
Here’s how the company performed in its third quarter, compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
- Earnings per share: 34 cents vs. 5 cents expected
- Revenue:…
