The following is a summary of the VeriSign, Inc. (VRSN) Q1 2024 Earnings Call Transcript:

Financial Performance:

• For Q1 2024, VeriSign reported a revenue of $384 million, marking a 5.5% increase year-over-year.

• The operating income also grew by 7.3% in comparison to last year, with earnings per share increasing by 12.9%.

• The company successfully repurchased 1.3 million shares for $260 million within this quarter.

• Net income for this period was $194 million, resulting in diluted earnings per share of $1.92, a considerable rise from $1.70 last year.

• Projections for 2024 see the revenue between $1.555 billion to $1.570 billion and operating income between $1.047 billion to $1.062 billion.

Business Progress:

• Despite a slight decrease in domain name bases in .com and .net by 270,000 names from the previous year, VeriSign anticipates positive change between 0.25% to negative 1.75% for 2024.

• New registrar marketing programs are planned to be implemented to aid registration trends and to achieve the goal of domain name base growth in 2025.

• To boost registration in 2025, new marketing programs dedicated to registrars have been planned targeting new customer acquisition.

• VeriSign maintains a steady fiscal health with $925 million in cash, equivalent, and marketable securities.

More details: VeriSign IR

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