Versant Media Group Inc's stock surged 6.32% in pre-market trading on Thursday, following the release of its first-quarter 2026 financial results that exceeded analyst expectations.

The media company reported revenue of $1.69 billion, topping the LSEG Ibes estimate of $1.62 billion. Earnings per share came in at $1.99, beating the estimated view of $1.78. The strong performance was driven by a 112.3% increase in content licensing and other revenue to $121 million, fueled by licensing deals for library titles like "Keeping Up with the Kardashians" to Hulu. Additionally, the company's digital platforms, including ticketing service Fandango, saw revenue rise approximately 9.1% to $192 million.

In a separate announcement, Versant Media Group said it entered into a $100 million accelerated share repurchase agreement, a move typically viewed positively by investors as it signals confidence from management and can boost earnings per share by reducing the number of outstanding shares.