Thu, Jul 25, 8:36 PM (44 days ago)
Verisign, Inc.'s Q2 2024 financial report highlights stable performance with a 4% increase in revenue to $387.1 million compared to Q2 2023. Operating income rose by 7% to $266.2 million. Net income for the quarter was $198.8 million, up from $185.7 million in Q2 2023, with earnings per share (EPS) increasing to $2.01 from $1.79. Cash flow from operations increased to $417.7 million for the first half of 2024, compared to $404.3 million in the same period last year. The company repurchased 2.2 million shares for $388.0 million and authorized an additional $1.11 billion for repurchases. Deferred revenues grew, driven by advance billings for domain registrations. The domain name base decreased slightly to 170.6 million, reflecting market competition and economic conditions. The effective tax rate remained steady at 23%. Verisign maintains a strong liquidity position with $689.9 million in cash, equivalents, and marketable securities.