Verisign Inc. (VRSN) Tops Q2 EPS by 4c

Verisign Inc. (NASDAQ: VRSN) reported Q2 EPS of $1.18, $0.04 better than the analyst estimate of $1.14. Revenue for the quarter came in at $302.45 million versus the consensus estimate of $302.61 million.

“Focus and disciplined execution have produced another solid quarter,” said Jim Bidzos, Executive Chairman, President and Chief Executive Officer.

Financial Highlights

• On May 1, 2018, Verisign settled the conversion/redemption of all of its outstanding subordinated convertible debentures by payment of $1.25 billion in cash and the issuance of 26.1 million shares of Verisign’s common stock.
• Verisign ended the second quarter with cash, cash equivalents and marketable securities of $1.17 billion, a decrease of $1.24 billion from year-end 2017.
• Cash flow from operating activities was $202 million for the second quarter of 2018, compared with $181 million for the same quarter in 2017.
• Deferred revenues on June 30, 2018, totaled $1.03 billion, an increase of $27 million from year-end 2017.
• During the second quarter, Verisign repurchased 1.0 million shares of its common stock for $125 million. At June 30, 2018, $813 million remained available and authorized under the current share repurchase program which has no expiration.

For earnings history and earnings-related data on Verisign Inc. (VRSN) click here.

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