Verisign Inc. (VRSN) Tops Q1 EPS by 6c, Revenues Beat

Verisign Inc. (NASDAQ: VRSN) reported Q1 EPS of $1.31, $0.06 better than the analyst estimate of $1.25. Revenue for the quarter came in at $306 million versus the consensus estimate of $302.6 million.

“We’re pleased to deliver another solid quarter,” said Jim Bidzos, Executive Chairman, President and Chief Executive Officer.

Financial Highlights

• Verisign ended the first quarter of 2019 with cash, cash equivalents and marketable securities of $1.25 billion, a decrease of $17 million from the end of 2018.
• During the first quarter of 2019, Verisign repatriated $249 million of cash held by foreign subsidiaries, net of foreign withholding taxes.
• Cash flow from operating activities was $187 million for the first quarter of 2019, compared with $90 million for the same quarter in 2018.
• Deferred revenues as of March 31, 2019 totaled $1.05 billion, an increase of $29 million from the end of 2018.
• During the first quarter of 2019, Verisign repurchased 1.0 million shares of its common stock for an aggregate cost of $175 million. As of March 31, 2019, there was $891 million remaining for future share repurchases under the share repurchase program which has no expiration date.

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

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