Versant Raises 2026 Outlook Following Mixed Q2 Results

Versant reported a 30% decrease in net income to $211 million in Q2 2026, falling from $302 million in the previous year. Revenue also declined by 3.8% to $1.64 billion, surpassing analyst predictions. Earnings per share reached $1.49, compared to $2.09 a year earlier, and met or exceeded the $1.42 per share expectations from analysts.

Despite the mixed earnings, Versant raised its full-year 2026 outlook, anticipating revenue between $6.2 billion and $6.45 billion and adjusted earnings before interest, taxes, depreciation, and amortization between $1.9 billion and $2.05 billion. CEO Mark Lazarus praised the company's brands for their strength, durability, and scale, reaching over 120 million viewers monthly.

Versant's audience growth remained robust, with MS NOW achieving its seventh consecutive month of year-over-year growth and CNBC delivering its highest-rated quarter in over five years. Golf Channel recorded its highest viewership since 2020, and USA Network maintained its position as a top cable entertainment network for key demographics.

The company's diversification efforts, including the launch of Fandango's ad-supported streaming service and the acquisition of Full Swing, are aimed at generating revenue beyond the shrinking pay TV bundle. CFO and COO Anand Kini credited the company's operating model and growth in platforms for the positive results, while emphasizing the company's commitment to disciplined capital allocation and long-term strategic priorities.