Verisign reports Q3 earnings revenue of $318 million for Q3 2020, up 3.1 percent from Q3 2019

VeriSign (NASDAQ:VRSN): reported earnings for Q3. Stock unchanged after hours.

Q3 Non-GAAP EPS of $1.28 misses by $0.07; GAAP EPS of $1.49 beats by $0.23.

Revenue of $317.8M (+3.0% Y/Y) beats by $1.73M.

Financial Highlights

• Verisign ended the third quarter of 2020 with cash, cash equivalents and marketable securities of $1.15 billion, a decrease of $68 million from the end of 2019.
• Cash flows from operating activities were $140 million for the third quarter of 2020, compared to $208 million for the same quarter in 2019.
• Deferred revenues as of Sept. 30, 2020 totaled $1.06 billion, an increase of $28 million from the end of 2019.
• During the third quarter of 2020, Verisign repurchased 0.8 million shares of its common stock for an aggregate cost of $170 million. As of Sept. 30, 2020, there was $506 million remaining for future share repurchases under the share repurchase program which has no expiration date.

Business Highlights

• Verisign ended the third quarter of 2020 with 163.7 million .com and .net domain name registrations in the domain name base, a 4.0 percent increase from the end of the third quarter of 2019, and a net increase of 1.65 million during the third quarter of 2020.
• During the third quarter of 2020, Verisign processed 10.9 million new domain name registrations for .com and .net, compared to 9.9 million for the same quarter in 2019.
• The final .com and .net renewal rate for the second quarter of 2020 was 72.8 percent compared to 74.2 percent for the same quarter in 2019. Renewal rates are not fully measurable until 45 days after the end of the quarter.

Source