Verisign Earnings: VRSN Stock Unmoving After Beating Q1 Estimates

Verisign (NASDAQ:VRSN) earnings for first quarter of 2020 have VRSN stock unmoving after markets closed Thursday. This comes after reporting diluted earnings per share (EPS) of $2.86 on revenue of $312.52 million. These are both better than Wall Street’s estimates of $1.28 per share and revenue of $309.25 million.

Verisign Earnings: VRSN Stock Unmoving After Beating Q1 Estimates

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Let’s take a closer look at the most recent Verisign earnings report below.

  • Diluted per-share earnings are up 111.85% over the $1.35 reported in the first quarter of 2020.
  • Revenue comes in 2% higher than the $306.41 million from the same time last year.
  • Operating income of $206.26 million is a 3% increase year-over-year from $200.25 million.
  • The Verisign earnings report also includes a net income of $334.12 million.
  • That’s a 105.57% boost compared to its net income of $162.53 million from the same period of the year prior.

Jim Bidzos, executive chairman and CEO of Verisign, said this in the earnings report.

“During the COVID-19 crisis, we are taking a number of steps to support small businesses and our local communities. Within Verisign, we remain focused on the health and welfare of our employees and our primary mission, which is the secure and reliable operation of critical internet infrastructure.”

There’s no guidance update in the Q1 2020 Verisign earnings report. Many companies have not been providing outlooks due to how the novel coronavirus is affecting the economy.

VRSN stock was unmoving after-hours Thursday.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/04/verisign-earnings-vrsn-stock/.

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