VeriSign reported a 4% increase in revenue to $390.6 million for Q3 2024, with operating income rising 6% to $269.3 million. The company's .com and .net domain name base decreased 2.5% year-over-year to 169.6 million registrations as of September 30, 2024. Price increases for .com and .net domains helped offset the decline in registrations.Cash flow from operations grew to $671.1 million for the first nine months of 2024, up from $649.6 million in the same period of 2023. The company repurchased 1.7 million shares for $300.9 million during Q3, with $1.28 billion remaining in its share repurchase program. VeriSign maintains a strong liquidity position with $644.9 million in cash and marketable securities as of September 30, 2024.Management noted that challenging economic conditions and regulatory factors in China, as well as shifts in registrar focus in the...Show More

VeriSign reported a 4% increase in revenue to $390.6 million for Q3 2024, with operating income rising 6% to $269.3 million. The company's .com and .net domain name base decreased 2.5% year-over-year to 169.6 million registrations as of September 30, 2024. Price increases for .com and .net domains helped offset the decline in registrations.Cash flow from operations grew to $671.1 million for the first nine months of 2024, up from $649.6 million in the same period of 2023. The company repurchased 1.7 million shares for $300.9 million during Q3, with $1.28 billion remaining in its share repurchase program. VeriSign maintains a strong liquidity position with $644.9 million in cash and marketable securities as of September 30, 2024.Management noted that challenging economic conditions and regulatory factors in China, as well as shifts in registrar focus in the U.S., have negatively impacted renewal rates and new registrations. However, VeriSign believes its existing resources and cash flow will be sufficient to meet working capital needs and service debt for at least the next 12 months. The company plans to refinance $500 million in senior notes due April 2025 through new long-term debt issuance.