VeriSign Earnings: Here’s Why Shares are Up Now
VeriSign Inc. (NASDAQ:VRSN) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.11%.
VeriSign Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 38.1% to $0.58 in the quarter versus EPS of $0.42 in the year-earlier quarter.
Revenue: Rose 14.96% to $236.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: VeriSign Inc. reported adjusted EPS income of $0.58 per share. By that measure, the company beat the mean analyst estimate of $0.54. It beat the average revenue estimate of $232.57 million.
Quoting Management: “The first quarter demonstrates our continued focus and discipline in the execution of our strategic framework,” commented Jim Bidzos, executive chairman, president and chief executive officer.
Key Stats (on next page)…
Revenue increased 2.74% from $230.2 million in the previous quarter. EPS decreased 1.69% from $0.59 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.56 and has not changed. For the current year, the average estimate is a profit of $2.27, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)