CANADA - 2025/06/09: In this photo illustration, the Versant logo is seen displayed on a smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images)

SOPA Images/LightRocket via Getty Images

Shares of Versant Media Group rose around 10% on Thursday, following its first quarter earnings report to investors.

Versant is a spin-off of Comcast which includes all of that media giant's cable television channels, excluding Bravo. Those channels include MS NOW, CNBC, USA, E!

This earnings report was the second one from Versant since the split from Comcast and the company reported $1.69 billion in revenue, down 1.1% from a year earlier. Net income declined 22% to $286 million. But those revenue and profit numbers beat expectations of analysts, which led to the rise in share prices.

The rise was also helped along by the announcement from Versant executives that the company would repurchase an additional $100 million of shares in the second quarter of 2026. That is in addition to the $100 million worth of stock that was repurchased by the company in the first quarter.

In other numbers, Versant said the revenue it receives from pay-TV distributors fell by 7.3% to $1.01 billion, and advertising revenue decreased by 5.2%, to $368 million. The company said that decline was an improvement from the dip in the first quarter of 2025, when advertising revenue was down 12%.

The company also reiterated its long-term goal to move towards a revenue model that was split equally between traditional linear TV and its digital and subscription businesses.

Along those lines, Versant has already rolled out a standalone streaming service for the business network CNBC and plans to launch one this fall for the cable news network MSNOW.

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SYFY announced that season three of The Ark will premiere on Wednesday, July 29th.

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