Versant Media Group Inc shares surged 6.15% in pre-market trading on Thursday, following the company's announcement of an improved annual revenue outlook driven by robust digital platform growth despite ongoing pay-TV subscriber losses.

The company raised its 2026 revenue forecast to a range of $6.2 billion to $6.45 billion, up from the previous estimate of $6.15 billion to $6.4 billion. This upgrade was fueled by strong advertising demand for news and sports programming, along with a 9.3% revenue increase in its Platforms division—which includes Fandango, Rotten Tomatoes, and GolfNow. The segment is being positioned as the company's primary growth engine as its legacy linear distribution business contracts.

Versant's second-quarter revenue of $1.64 billion also beat analyst expectations of $1.62 billion, according to LSEG data. The company highlighted the launch of a Fandango ad-supported streaming service and a strong upcoming sports slate, including NASCAR, the Premier League, and WWE programming, as key drivers for continued momentum. Additionally, CNBC delivered its highest-rated quarter in over five years, supported by high-profile coverage such as the SpaceX IPO and an interview with Jeff Bezos.