Versant Media Group, Inc. (VSNT) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Versant Media Group published the results on November 3, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• Versant separated from Comcast on January 2, 2026. Figures for periods before then are carve-out results derived from Comcast's records, and EPS for those periods uses the shares outstanding on the separation date, so the year-ago EPS of $0.56 is a calculation, not a figure Versant reported at the time.
• Versant sold SportsEngine in the second quarter of 2026 and bought Full Swing on August 3, 2026. SportsEngine contributed $36 million of revenue in Q3 2025 and Full Swing $24 million in Q3 2026.

Source: Versant Q3 2026 results, November 3, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Versant Media Group splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Versant Media Group's Linear distribution revenue was $935 million in Q3 2026, down 6% from $992 million in Q3 2025, 59% of total revenue.
• Versant Media Group's Advertising revenue was $373 million in Q3 2026, down 5% from $394 million in Q3 2025, 23% of total revenue.
• Versant Media Group's Platforms revenue was $245 million in Q3 2026, up 9% from $224 million in Q3 2025, 15% of total revenue.
• Versant Media Group's Content licensing and other revenue was $41.0 million in Q3 2026, down 24% from $54.0 million in Q3 2025, 3% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

The second quote is Versant's revenue outlook, the third its Adjusted EBITDA outlook and the fourth its Free Cash Flow outlook. Versant gives no EPS outlook.

In its Q3 2026 release, Versant Media Group said:

“Based on year-to-date performance and expectations for the remainder of the year, the Company reaffirms its full-year 2026 outlook for revenue and Adjusted EBITDA, and now anticipates Free Cash Flow to exceed our prior forecast”

“Total Revenue: Reaffirmed outlook of $6.2 billion to $6.45 billion”

“Reaffirmed outlook of $1.90 billion to $2.05 billion”

“Expected to exceed the prior $1.0 billion to $1.2 billion range”

Source: Versant Q3 2026 release, Nov 3, 2026.

This is the company's own guidance as of Nov 3, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the VSNT forecast page.

Revenue and diluted EPS for the last 4 quarters. Each date links to that quarter's release.

Versant's first release, on March 3, 2026, covered full-year 2025 only, when it was still part of Comcast. Q4 2025 revenue is the 2025 total of $6,688 million less the nine-month figure of $5,078 million, and no Q4 2025 EPS was reported. Versant reports no adjusted EPS, so the table shows GAAP diluted EPS as first reported.

We do not hold a confirmed date for Versant Media Group's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 3, 2026

Versant Media Group, the cable network business Comcast spun off on January 2, 2026, earns most of its revenue from pay-TV distributors. Linear distribution fees were $935 million of $1,594 million in Q3 2026, advertising $373 million, Platforms $245 million and content licensing and other $41 million. Its brands include CNBC, MS NOW, USA Network, Golf Channel, E!, SYFY, Fandango, Rotten Tomatoes and GolfNow. (Versant Q3 2026 release, Nov 3, 2026)

Total revenue fell 4.2%, or 3.5% excluding SportsEngine and Full Swing. Linear distribution fell 5.8%, which Versant puts down to subscriber declines partly offset by contractual rate increases, and the 10-Q says it expects the number of subscribers and linear distribution revenue to keep declining. Advertising fell 5.3%, mostly because the prior-year quarter included the Ryder Cup. (Versant Q3 2026 release, Nov 3, 2026; Versant Form 10-Q, Q3 2026, Nov 3, 2026)

Platforms is the growing line: it rose 9.6%, or 17.4% excluding SportsEngine (sold in the second quarter of 2026 for $143 million) and Full Swing (bought on August 3, 2026 for $536 million). Versant attributes the increase mainly to Fandango movie ticket purchases and sales from its new cinema operating platform. (Versant Q3 2026 release, Nov 3, 2026; Versant Form 10-Q, Q3 2026, Nov 3, 2026)

Versant's revenue leans on a few distributors. In 2025, revenue from arrangements with Comcast was between 10% and 11% of total revenue, and one other customer represented 11%. (Versant Form 10-K, 2025, Mar 3, 2026)

Versant reports only GAAP EPS. Diluted EPS fell to $0.34 from $0.56 as net income attributable to Versant dropped to $47 million from $80 million. Versant cites lower revenue plus public company costs and $53 million of interest expense on the debt it took on at separation, against none a year earlier, partly offset by a $40 million investment impairment in the prior-year quarter. (Versant Q3 2026 release, Nov 3, 2026; Versant Form 10-Q, Q3 2026, Nov 3, 2026)

The effective tax rate was 28.8%, against 36.2% a year earlier. Depreciation and amortization was $243 million. Adjusted EBITDA, which Versant does report, was $353 million, down 20.9% from $445 million, or down 7.4% against a standalone figure of $381 million that adds back estimated costs of operating apart from Comcast. (Versant Form 10-Q, Q3 2026, Nov 3, 2026; Versant Q3 2026 release, Nov 3, 2026)

Diluted shares averaged 138,538 thousand, against the 144,169 thousand outstanding at separation that the year-ago figure uses. Versant repurchased $100 million of Class A stock, about 2.6 million shares, through an accelerated share repurchase in Q3 2026, had approximately $700 million left under its program at September 30, and planned another $100 million ASR starting November 4, 2026. (Versant Form 10-Q, Q3 2026, Nov 3, 2026; Versant Q3 2026 release, Nov 3, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Versant gives a full-year outlook in its release and on November 3, 2026 reaffirmed total revenue of $6.2 billion to $6.45 billion and Adjusted EBITDA of $1.90 billion to $2.05 billion. It now expects free cash flow to exceed its prior $1.0 billion to $1.2 billion range. It gives no EPS outlook. (Versant Q3 2026 release, Nov 3, 2026)

A consensus figure is the average of the models published by the analysts who cover Versant Media Group, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Versant Media Group's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning VSNT is on is VSNT a buy or a sell?, what analysts expect next is on the VSNT forecast, and what the company does is on the Versant Media Group, Inc. (VSNT) stock page.

Every number on this page can be traced to a document Versant Media Group published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.