Verisign said it recorded revenue of $384.3 million (up 5% from the same period a year earlier) and operating income of $258.9 million (up 7%) for the 3 months ended March 31, 2024.

1. 01

   Verisign said it recorded revenue of $384.3 million (up 5% from the same period a year earlier) and operating income of $258.9 million (up 7%) for the 3 months ended March 31, 2024.

2. 02

   The company said its .com and .net domain name base stood at 172.5 million as of March 31, 2024, down 1.3% from March 31, 2023 and a net decrease of 0.3 million from December 31, 2023. It said it processed 9.5 million new .com and .net registrations in the 3 months, compared with 10.3 million in the same period a year earlier.

3. 03

   Verisign cited price increases for .com that took effect on September 1, 2023 and September 1, 2022 as factors behind the revenue increase. It also said it raised the .net registration fee from $9.92 to $10.91 effective February 1, 2024, and announced it will raise the .com fee from $9.59 to $10.26 effective September 1, 2024.

4. 04

   The company said it repurchased 1.3 million shares of common stock for an aggregate cost of $260.4 million during the 3 months ended March 31, 2024, and that $859.6 million remained available under the share repurchase program as of that date. It said net cash provided by operating activities was $257.3 million for the same period, compared with $259.0 million a year earlier.

Key figures

Quarter ended March 31, 2024

Revenue

$384M

Operating income

$259M

Net income

$194M

Operating cash flow

$257M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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