Versant Beats Earnings Estimates and Raises Free Cash Flow Target

Versant posted third-quarter adjusted EBITDA of $353 million, exceeding the $305 million estimate, and lifted its cash-flow outlook as digital platform revenue grew nearly 10% year over year. Earnings per share came in at 34 cents, compared with the 5-cent analyst estimate. Total revenue was $1.59 billion, down from $1.66 billion in the year-earlier quarter. Net income declined to $47 million, or 34 cents a share, from $80 million, or 56 cents, a year earlier. Digital platforms, including Fandango, generated $245 million in revenue. Fandango ticketing revenue reached its strongest level since the pandemic.

Source: TokenPost