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Earnings Call Summary | VeriSign(VRSN.US) Q2 2024 Earnings Conference

Futu News ·  Jul 26 11:57  · Conference Call

The following is a summary of the VeriSign, Inc. (VRSN) Q2 2024 Earnings Call Transcript:

Financial Performance:

  • VeriSign reported Q2 2024 revenue of $387 million, a growth of 4.1% year-over-year.

  • Operating income grew by 7.1% year-over-year to $266 million.

  • Earnings per share increased to $2.01, up 12.3% from the previous year.

  • Domain name base in .com and .net decreased by 1.8 million names compared to the previous quarter.

Business Progress:

  • Celebrated 27 years of 100% uninterrupted availability for .com and .net domain name resolution systems, handling 328 billion queries per day.

  • Launched new registrar marketing programs targeted at overcoming weaker trends and returning to domain name base growth in 2025.

Opportunities:

  • New registrar marketing initiatives in the U.S. launched, aimed at improving new registration trends.

  • Anticipated modifications and enhancements in upcoming programs for 2025 to better align with registrar needs and market demands.

Risks:

  • U.S. registrars focusing on Average Revenue Per User (ARPU) impacting renewal rates and new registrations negatively.

  • Continued weakness in the China market contributing predominantly to the decline in domain name base.

More details: VeriSign IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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