Versant debut earnings report shows continued pay TV pressure, digital growth [MSNBC.com]
Comcast Corporation - Class A (CMCSA)
Last comcast corporation - class a earnings: 4/30 07:00 am
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Source: MSNBC.com
Versant GroupComcastfirst earnings reportThe companyreportedthe ownershipVersant's linear distribution revenue was down 5.4% to $4.1 billion, and advertising revenue declined almost 9% to $1.58 billion.Net income attributable to Versant was $930 million, and the company reported $2.18 billion in standalone adjusted earnings before interest, taxes, depreciation and amortization.Shares of Versant gained 5% in premarket trading Tuesday.For the quarter ended Dec. 31, Versant's total revenue was down nearly 7% to $1.61 billion, according to aSecurities and Exchange filingStandalone adjusted EBITDA for the quarter was $521 million, down 19% from the same period last year.The company's board also declared a $0.375 per share quarterly dividend, which represents an annualized dividend of $1.50 per share, and authorized a $1 billion share repurchase program. Due to its low debt load and high-margin business, Versant executives have said they plan to return value to shareholders.Versant marked
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