Verisign Inc. (VRSN) Tops Q3 EPS by 5c

Verisign Inc. (NASDAQ: VRSN) reported Q3 EPS of $1.36, $0.05 better than the analyst estimate of $1.31. Revenue for the quarter came in at $308 million versus the consensus estimate of $308.3 million.

“Our third quarter results are the product of focused execution and our commitment to delivering shareholder value,” said Jim Bidzos, Executive Chairman, President and Chief Executive Officer.

Financial Highlights

• Verisign ended the third quarter of 2019 with cash, cash equivalents and marketable securities of $1.23 billion, a decrease of $40 million from the end of 2018.
• Cash flow from operating activities was $208 million for the third quarter of 2019, compared to $187 million for the same quarter in 2018.
• Deferred revenues as of Sept. 30, 2019 totaled $1.04 billion, an increase of $24 million from the end of 2018.
• During the third quarter of 2019, Verisign repurchased 1.0 million shares of its common stock for an aggregate cost of $194 million. As of Sept. 30, 2019, there was $522 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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