NASDAQ: VRSN
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| $VRSN |
Investor Relations: investor.verisign.com
Listen to Webcast / Earnings Results (pdf) / Earnings Presentation (pdf)
VeriSign (VRSN) Q2 2018 Earnings Call Transcript | SeekingAlpha.com: Executive Chairman Jim Bidzos: "Our financial position remains strong with $1.2 billion in cash, cash equivalents and marketable securities at the end of the quarter ... At the end of June, the domain name base in [top-level domains] .COM and .NET totaled 149.7 million, consisting of 135.6 million names for .COM and 14.1 million names for .NET. During the second quarter we processed 9.6 million new registrations and the domain name base increased by 1.4 million names. Although renewal rates are not fully measurable until 45 days after the end of the quarter, we believe that the renewal rate for the second quarter of 2018 will be 74.9%. This preliminary rate compares to 74.0% achieved in the second quarter of 2017. We now expect full year 2018 domain name base growth [.COM + .NET] of between 3.5% and 4.25% with an increase to the domain name base for the third quarter of 2018 of between 1.3 million and 1.8 million net registrations. To update you on our discussions about the Cooperative Agreement, VeriSign and NTIA are engaged in dialogue about amending the Cooperative Agreement and what that amendment would look like. But beyond that we don't have anything else to say at this time." (emphasis added)
Editor's note: Verisign's Chairman James Bidzos reported above that Verisign and NTIA (U.S. Dept of Commerce) were currently negotiating an amendment to the Cooperative Agreement which includes Amendment 32 on .COM pricing (which unless extended, expires November 30, 2018).
Q2 2018 earnings release excerpts--Second Quarter GAAP Financial Results:
"VeriSign, Inc. and subsidiaries (“Verisign”) reported revenue of $302 million for the second quarter of 2018, up 4.8% percent from the same quarter in 2017. Verisign reported net income of $128 million and diluted earnings per share (diluted “EPS”) of $1.04 for the second quarter of 2018, compared to net income of $123 million and diluted EPS of $0.99 for the same quarter in 2017. The operating margin was 63.8 percent for the second quarter of 2018 compared to 60.6 percent for the same quarter in 2017."
"Verisign ended the second quarter with 149.7 million .com and .net domain name registrations in the domain name base, a 3.7 percent increase from the end of the second quarter of 2017, and a net increase of 1.39 million during the second quarter of 2018. In the second quarter, Verisign processed 9.6 million new domain name registrations for .com and .net, compared to 9.2 million for the same quarter in 2017. The final .com and .net renewal rate for the first quarter of 2018 was 75.3 percent compared with 72.5 percent for the same quarter in 2017. Renewal rates are not fully measurable until 45 days after the end of the quarter."
"On May 1, 2018, Verisign settled the conversion/redemption of all of its outstanding subordinated convertible debentures by payment of $1.25 billion in cash and the issuance of 26.1 million shares of Verisign’s common stock. Verisign ended the second quarter with cash, cash equivalents and marketable securities of $1.17 billion, a decrease of $1.24 billion from year-end 2017. Cash flow from operating activities was $202 million for the second quarter of 2018, compared with $181 million for the same quarter in 2017. Deferred revenues on June 30, 2018, totaled $1.03 billion, an increase of $27 million from year-end 2017. During the second quarter, Verisign repurchased 1.0 million shares of its common stock for $125 million. At June 30, 2018, $813 million remained available and authorized under the current share repurchase program which has no expiration."Q2 2018 Verisign Earnings Conference Call LIVE Webcast Jul 26, 2018 at 4:30 PM EDT
Verisign will host a live teleconference call on July 26, 2018, at 4:30 p.m. (EDT), which will be accessible by direct dial at (888) 676-VRSN (U.S.) or (323) 701-0225 (international), conference ID: Verisign. A listen-only live webcast of the earnings conference call will also be available at https://investor.verisign.com. An audio archive of the call will be available at the same website.See also: News Review | The State of the Domain Name Industry Q1 2018.
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