VeriSign, Inc. (NASDAQ: VRSN) reported Fourth Quarter and Full Year 2023 Results.
Fourth Quarter Financial Results
VeriSign, Inc. and subsidiaries (“Verisign”) reported revenue of $380 million for the fourth quarter of 2023, up 3.0 percent from the same quarter in 2022. Operating income was $256 million for the fourth quarter of 2023, compared to $245 million for the same quarter of 2022. Verisign reported net income of $265 million and diluted earnings per share (diluted “EPS”) of $2.60 for the fourth quarter of 2023, compared to net income of $179 million and diluted EPS of $1.70 for the same quarter in 2022.
Net income for the fourth quarter of 2023 included the recognition of income tax benefits related to a step-up in tax basis of certain non-U.S. intellectual property, recognition of previously unrecognized income tax benefits as the related statutes of limitations lapsed, and a beneficial change in certain state income apportionment rules. Cumulatively, these income tax benefits increased net income by $69.3 million and increased diluted EPS by $0.68.
Full press release here