CNBC owner Versant Media Group has posted a strong Q1 release. Options data suggests VSNT shares will extend gains through the remainder of 2026.
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CNBC owner Versant Media Group has posted a strong Q1 release. Options data suggests VSNT shares will extend gains through the remainder of 2026.
The gain came despite declines in the company’s revenue and net income on lower subscriber numbers and ad sales.
Versant Media topped Wall Street estimates for first-quarter revenue on Thursday, as content licensing deals and strong sales at businesses like Fandango helped cushion the impact of pay-TV cord cutting. The Comcast spinoff, whose portfolio is centered on cable networks, has been expanding the reach of major brands including CNBC and MS NOW to stay competitive as viewers increasingly move to streaming. For the January-March period, total revenue came in at $1.69 billion compared with estimates of $1.62 billion, according to data compiled by LSEG.
The company beat Wall Street expectations in its second earnings report since it was spun off from Comcast.