Versant Media Q2 revenue falls 3.8%

Versant Media

06/08/2026 12:34

Overview
U.S. media and entertainment firm's Q2 revenue declined 3.8% yr/yr but beat analyst expectations
Net income and adjusted EBITDA fell yr/yr due to lower revenue and increased expenses
Company completed $100 mln share repurchase, plans additional $100 mln ASR in Q3

Outlook
Versant raises full-year 2026 total revenue outlook to $6.2 bln-$6.45 bln
Company lifts 2026 adj EBITDA forecast to $1.9 bln-$2.05 bln
Versant maintains 2026 free cash flow guidance at $1.0 bln-$1.2 bln

Result Drivers
SUBSCRIBER LOSSES - Linear distribution revenue declined due to subscriber losses, partially offset by contractual rate increases
PLATFORM GROWTH - Platform revenue increased, driven by higher revenue at Fandango and GolfNow, excluding SportsEngine divestiture
COST REDUCTIONS - Lower programming and administrative costs partially offset revenue declines, supporting adjusted EBITDA

Company press release: ID:nBw3sbsGVa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$1.64 bln
$1.62 bln (6 Analysts)
Q2 EPS
 
$1.49
 
Q2 Net Income
 
$211 mln
 
Q2 Adjusted EBITDA
 
$624 mln
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the broadcasting peer group is "buy."
Wall Street's median 12-month price target for Versant Media Group Inc is $46.00, about 28.5% above its August 5 closing price of $35.79
The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 7 three months ago

Reuters Recommended Reads
Aug 5 - Disney Q3 adjusted EPS beats on Toy Story 5 performance; plans $9 bln buyback
Aug 5 - Sinclair Q2 revenue rises on political advertising strength 
Aug 6 - ProSiebenSat.1 beats profit forecasts as cost cuts offset revenue decline

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)