Versant Media, the owner of cable networks like CNBC and E!, saw its shares rise after it boosted its full-year revenue forecast. This occurred even as the company reported lower sales in its latest earnings, the third since its spin-off from Comcast.

Versant now anticipates annual revenue between $6.2 billion and $6.45 billion, a slight increase from its previous guidance and nearing analyst estimates of $6.41 billion. The company's profit for the period was $211 million, or $1.49 per share, which surpassed the $1.35 per share expected by analysts surveyed by Fact Set, though it was lower than the $2.09 per share reported a year prior.