VeriSign (VRSN) came out with quarterly earnings of $1.43 per share, beating the Zacks Consensus Estimate of $1.39 per share. On the day Verisign closed at $208.42 up 2.36%. (Source)
Financial Highlights
- Verisign ended the first quarter of 2022 with cash, cash equivalents and marketable securities of $1.21 billion, an increase of $4 million from year-end 2021.
- Cash flow from operations was $207 million for the first quarter of 2022, compared to $198 million for the same quarter of 2021.
- Deferred revenues as of March 31, 2022 totaled $1.18 billion, an increase of $28 million from year-end 2021.
- During the first quarter of 2022, Verisign repurchased 0.9 million shares of its common stock for an aggregate cost of $196 million. As of March 31, 2022, there was $893 million remaining for future share repurchases under the share repurchase program which has no expiration date.
Business Highlights
- Verisign ended the first quarter of 2022 with 174.7 million .com and .netdomain name registrations in the domain name base, a 4.0 percent increase from the end of the first quarter of 2021, and a net increase of 1.23 million during the first quarter of 2022.
- During the first quarter of 2022, Verisign processed 10.2 million new domain name registrations for .com and .net, as compared to 11.6 million for the same quarter of 2021.
- The final .com and .net renewal rate for the fourth quarter of 2021 was 74.8 percent compared to 73.5 percent for the same quarter of 2020. Renewal rates are not fully measurable until 45 days after the end of the quarter.