Verisign Inc

VRSN

Equity

ISIN US92343E1029 / Valor 847364

NASDAQ (2024-09-16)

USD 182.46-0.19%

Verisign Inc
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About company

Verisign Inc is a leading provider of registry services for domain names, including the popular .com and other top-level domains. The company works closely with industry groups and law enforcement to combat DNS abuse, security threats, and illegal activities such as fraud and child abuse. Verisign also conducts research to enhance DNS security and stability, developing new technologies to improve privacy and minimize unnecessary queries. With a proprietary DNS infrastructure built for dependability in a cyberthreat environment, Verisign has provided uninterrupted resolution services for over 26 years, supporting global e-commerce and critical online services. The company's wholesale prices are regulated by the U.S. government, serving over 2,000 ICANN accredited registrars who sell domain names to individual and business end-users.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

Verisign Inc. reported revenue of $387 million for the second quarter of 2024, marking a 4.1 percent increase from the same quarter in 2023. This growth highlights the company's ability to enhance its financial performance year-over-year.

Operating Income

For the second quarter of 2024, Verisign Inc. achieved an operating income of $266 million, compared to $249 million in the same quarter of 2023. This improvement underscores the company's operational efficiency and profitability.

Net Income and EPS

Verisign Inc. reported a net income of $199 million and diluted earnings per share (EPS) of $2.01 for the second quarter of 2024. This is an increase from the net income of $186 million and diluted EPS of $1.79 reported in the same quarter of 2023.

Cash Flow and Share Repurchase

Cash flow from operations for Verisign Inc. was $160 million in the second quarter of 2024, up from $145 million in the same quarter of 2023. Additionally, the company repurchased 2.2 million shares of its common stock for an aggregate cost of $388 million during this period.

Deferred Revenues

As of June 30, 2024, Verisign Inc.'s deferred revenues totaled $1.29 billion, an increase of $43 million from year-end 2023. This growth in deferred revenues indicates a strong future revenue stream for the company.

Summarized from source with an LLMView Source

Key figures

-9.10%1Y

-18.8%3Y

-3.74%5Y

Performance

17.4%1Y

25.3%3Y

28.0%5Y

Volatility