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Versant Earnings Best Estimates in Quarter of Fandango, MS NOW Expansion

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Versant is getting there.

The cable TV-focused spinoff from NBCUniversal that owns CNBC, MS NOW, USA, Golf Channel and other assets beat Wall Street’s consensus third-quarter revenue estimate with $1.59 billion reported. $373 million (-5.3 percent) came from advertising and $245 million (+9.6 percent) from platforms ($935 million in linear distribution, $302 million in free cash flow.) Versant is pushing forward toward its goal of a 50/50 mix of advertising and platforms revenue. The company’s adjusted EBITDA dropped to $353 million (-7.4 percent); net income was $47 million, earnings per share was 34 cents.

Fandango had a strong quarter in ticket sales and launched its AVOD platform in the quarter. MS NOW’s direct-to-consumer product also debuted; CNBC’s will following next year.…

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