Versant, the media company spun off from Comcast earlier this year, reported mixed second-quarter results, with total revenue and earnings per share both declining year-on-year. However, advertising trends showed signs of improvement, offering some encouragement as the company works to rebalance its business away from reliance on traditional linear television towards digital platforms.

Total revenue fell 4% to $1.64 billion, while earnings per share dropped to $1.49 from $2.09 a year earlier. Advertising revenue slipped less than 1% to $423 million, a marked improvement on the 13% decline seen in the prior-year quarter, aided by strong ratings and the acquisition of Free TV Networks. Linear distribution revenue fell 6% to $954 million, while the Platforms division, which includes Fandango, grew 9% excluding the divested SportsEngine business. Versant, whose brands include MS NOW, CNBC and USA Network, currently generates roughly 75% of revenue from linear TV against a long-term goal of a 50-50 split with digital.