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Earnings analysis · 10-Q

VSNT earnings analysis

Filed May 14, 2026 · Our reading of the company's report

The latest report

Versant Media Group reported Q1 2026 results with revenues of $1.69 billion, slightly down 1.1% year-over-year, and an EPS of $1.99, a decline of 22.0% compared to the prior year. Despite a revenue surprise that…

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Versant Media Group reported Q1 2026 results with revenues of $1.69 billion, slightly down 1.1% year-over-year, and an EPS of $1.99, a decline of 22.0% compared to the prior year. Despite a revenue surprise that exceeded expectations by 4.2%, the income showed significant pressure from operational costs and lower advertising revenues, compounding the challenges following their separation from Comcast.

Read the original on SEC.gov

Where revenue came from

The business segments reported by the company.

Linear distribution 59.6% Advertising 21.8% Platforms 11.4% Content licensing and other 7.2%

Shares of the segments disclosed in this filing, largest first.

Reported figures

Earnings per share
$1.99

What stood out

  • Revenue Exceeded Estimates

    Reported revenue of $1.69 billion surpassed estimates of $1.62 billion.

  • Free Cash Flow Improved

    Operating cash flows rose significantly to $585 million from $478 million year-over-year.

  • Platforms Revenue Growth

    Platforms revenue showed a strong increase of 9.5%, rising to $192 million.

  • Cash Position Improved

    Total cash and cash equivalents increased to $1.19 billion from $55 million as of December 31, 2025.

  • Debt Issued Post-Separation

    The company incurred approximately $3 billion in debt following its separation from Comcast.

  • Increased Share Repurchase Program

    Versant repurchased 2.7 million shares for $100 million, with $900 million remaining under the authorized program.

What to watch

  • Decline in Linear Distribution Revenue

    Linear distribution revenues fell to $1.006 billion, down 7.3% year-over-year.

  • Decreased Advertising Revenue

    Advertising revenues decreased by 5.2%, leading to a total of $368 million.

  • Increased Operational Costs Post-Separation

    Incurred higher selling, general, and administrative expenses of $351 million, up 14.3% from last year.

Management's outlook

Outlook deferred to earnings press release / call.

Earlier filings 1

10-K · March 3, 2026

Versant reports scale and stable core businesses (networks + digital platforms) with FY2025 revenue of $6,688,000,000 and EPS of $6.41, while completing a separation from Comcast (Separation effective January 2, 2026)…

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.