Versant, the NBCUniversal cable spinoff behind CNBC, MS NOW, USA Network and Golf Channel, has reported lower revenue and profit for its second quarter as its first results since separating from Comcast reflected both a shrinking pay-TV business and one-off costs tied to the split. The decline underscores the challenges facing the newly independent company as it tries to pivot away from traditional linear television towards streaming and digital platforms.

Revenue for the quarter to 30 June fell 3.8% year-on-year to $1.64 billion, with linear distribution revenue down 6.3% to $954 million. Advertising revenue slipped just under 1% to $423 million, a much smaller drop than the previous year's 13% fall, while platforms revenue rose 0.8% to $212 million and content licensing held steady at $43 million. Net income attributable to Versant dropped 30% to $211 million, hit by lower revenues and separation-related costs including higher taxes following the divestiture of SportsEngine, while adjusted EBITDA fell 9% to $624 million. Despite the weaker quarter, Versant raised its full-year 2026 guidance, forecasting revenue of $6.2-6.45 billion and adjusted EBITDA of $1.9-2.05 billion, with chief executive Mark Lazarus citing the company's continued reach of over 120 million monthly viewers.