Verisign: Ends 2Q With 124.3 Million .Com/.Net; Domain Revenue up 12% & $2 Billion In The Bank

VeriSign, Inc. (NASDAQ: VRSN), treported financial results for the second quarter ended June 30, 2013 after the market closed.

As of the quater ending June 30 there were 124.3 million .com/.net domain names an increase of 4.9%

VeriSign, Inc., and subsidiaries (“Verisign”) reported revenue of $239 million for the second quarter of 2013, up 12 percent from the same quarter in 2012.

Verisign reported net income of $87 million and diluted earnings per share (EPS) of $0.55 for the second quarter of 2013, compared to net income of $68 million and diluted EPS of $0.42 in the same quarter in 2012.

The operating margin was 55.2 percent for the second quarter of 2013 compared to 50.0 percent for the same quarter in 2012.

.Com and .net renewal rate’s for the first quarter of 2013 was 73.2 percent compared with 73.9 percent for the first quarter of 2012

Financial Highlights

  • Verisign ended the second quarter with Cash, Cash Equivalents and Marketable Securities of $2.0 billion, an increase of $441 million from year-end 2012, primarily reflecting the April 2013 issue of $750 million of its 4.625% senior notes due May 2023 and other items noted in the condensed consolidated statements of cash flows.

Business Highlights

  • Verisign Registry Services added 1.22 million net new names during the second quarter, ending with 124.3 million active domain names in the zone for .com and .net, which represents a 4.9 percent increase over the zone at the end of the second quarter a year ago.
  • In the second quarter, Verisign processed 8.7 million new domain name registrations as compared to 8.4 million in the same quarter a year prior.
  • The final .com and .net renewal rate for the first quarter of 2013 was 73.2 percent compared with 73.9 percent for the first quarter of 2012. Renewal rates are not fully measurable until 45 days after the end of the quarter.
  • Verisign announced an increase in the registry domain name fee for .net domain names from $5.62 to $6.18, effective February 1, 2014, per its agreement with the Internet Corporation for Assigned Names and Numbers (ICANN).

Comments

  1. skipTime says

    Wowzers.

    So let me get this straight.

    VeriSign JUST increased its prices on .NET domain names a few weeks ago (July 1st 2013) from $5.11 to $5.62 per domain name.

    Today (July 25th 2013) VeriSign just announced another price increase which will take place on February 1st 2014. This will increase the cost of .NET domains from $5.62 to $6.18 per domain.

    This is a 20.95% price increase within 7-months!

    Possibly I need to spell this out …..

    TWENTY point NINE-FOUR percent.

    One more time: 20.94%

    And VeriSign just announced this price increase on the very same day they reported quarterly net income of $87 million.

    Consumers Lose.

    VeriSign wins.

    Got to love this Monopoly!

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