Versant Media reports mixed second-quarter results following its spin-off from Comcast. Across the quarter, the company’s financial performance is weaker on revenue and profit compared with the year-ago period, while executives point to improvements in advertising trends. Deadline reports total revenue declines 4% to $1.64 billion, with earnings per share falling to $1.49 from $2.09. Variety reports net income decreases by 30%, falling to $211 million from $302 million in the prior-year quarter. Despite the declines in earnings, both outlets indicate the business is seeing progress in ad sales. Variety attributes part of the broader strategy to adding non-traditional assets to support its linear media operations, citing Versant’s position as the owner of cable networks including MS NOW, CNBC and USA. Overall, the reporting reflects a quarter where revenue and profitability contract year over year, but where advertising conditions show some improvement.