Verisign reported net income of $163 million or $1.35 a share

3 analysts forecast earnings of $1.25 per share compared to earnings of $1.07 per share in the same quarter of the previous year.

Wall Street is expecting the company to report $302.6 million, an increase of 1.12% over the prior year quarter. Source

Results

VeriSign, Inc. and its subsidiaries (“Verisign”) reported revenue of $306 million for the first quarter of 2019, up 2.4 percent from the same quarter in 2018. Verisign reported net income of $163 million and diluted earnings per share (diluted “EPS”) of $1.35 for the first quarter of 2019, compared to net income of $134 million and diluted EPS of $1.09 for the same quarter in 2018. The operating margin was 65.4 percent for the first quarter of 2019 compared to 62.0 percent for the same quarter in 2018.

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.