VeriSign Earnings: Strongth Double-Digit Growth Impresses Investors
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 1.30%.
VeriSign Inc. Earnings Cheat Sheet
Results: Net income increased 78.41% to $96 million (59 cents per diluted share) in the quarter versus a net gain of $53.81 million in the year-earlier quarter.
Revenue: Rose 12.94% to $230 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: VeriSign Inc. reported adjusted net income of 59 cents per share. By that measure, the company beat the mean analyst estimate of $0.51. It beat the average revenue estimate of $229.2 million.
Quoting Management: “In 2012, Verisign marked 15 years of uninterrupted availability for .com and .net and we renewed the .com Registry Agreement for an additional six years. Our performance continues to demonstrate discipline and operational focus…