VeriSign Earnings Beat Sends VRSN Stock Soaring

VeriSign‘s (VRSN) quarterly earnings sent VRSN stock soaring Friday afternoon.

VeriSignThe Internet infrastructure company posted second quarter revenue of $250.3 million, a 4.6% increase compared to the year-ago mark. VeriSign’s net income stood at $100.1 million — or 71 cents per share — surpassing a year ago’s $87 million — or 55 cents per share — mark.

The company’s net income was 68 cents per share on an adjusted basis. This figure exceeded estimates from analysts surveyed by Bloomberg who came to an average of 65 cents per share.

VeriSign added 420,000 net new names in the .com and .net domains last quarter, 128.9 of which were registered. This figure is up 3.7% from a year earlier.

VRSN stock is up about 11.6% Friday afternoon.

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Article printed from InvestorPlace Media, https://investorplace.com/2014/07/verisign-vrsn/.

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