Press release
Verisign Reports Second Quarter 2022 Results
RESTON, Va.--(BUSINESS WIRE)-- VeriSign, Inc. (NASDAQ: VRSN), a global provider of domain name registry services and internet infrastructure, today reported
About this update from Verisign, Inc.
[{"type":"text","content":" RESTON, Va.--(BUSINESS WIRE)--\nVeriSign, Inc. (NASDAQ: VRSN), a global provider of domain name registry services and internet infrastructure, today reported financial results for the second quarter of 2022.\n\nVeriSign, Inc. and its subsidiaries (“Verisign”) reported revenue of $352 million for the second quarter of 2022, up 6.8 percent from the same quarter in 2021. Verisign reported net income of $167 million and diluted earnings per share (diluted “EPS”) of $1.54 for the second quarter of 2022, compared to net income of $148 million and diluted EPS of $1.31 for the same quarter of 2021. The operating margin was 67.1 percent for the second quarter of 2022 compared to 64.7 percent for the same quarter of 2021.\n\n“Our mission of enabling the world to connect online with reliability and confidence remains our primary focus throughout changing times. I’m pleased to note that we crossed a significant milestone in that mission last week for our critical internet infrastructure by marking 25 years of 100% availability in the .com/.net domain name resolution system,” said Jim Bidzos, Executive Chairman and Chief Executive Officer.\n\nFinancial Highlights\n\n\nVerisign ended the second quarter of 2022 with cash, cash equivalents and marketable securities of $997 million, a decrease of $209 million from year-end 2021.\n\n\nCash flow from operations was $145 million for the second quarter of 2022, compared to $143 million for the same quarter of 2021.\n\n\nDeferred revenues as of June 30, 2022 totaled $1.18 billion, an increase of $28 million from year-end 2021.\n\n\nDuring the second quarter of 2022, Verisign repurchased 2.0 million shares of its common stock for an aggregate cost of $349 million. As of June 30, 2022, there was $543 million remaining for future share repurchases under the share repurchase program which has no expiration date.\n\n\nBusiness Highlights\n\n\nVerisign ended the second quarter of 2022 with 174.3 million .com and .net domain name registrations in the domain name base, a 2.2 percent increase from the end of the second quarter of 2021, and a net decrease of 0.35 million domain names during the second quarter of 2022.\n\n\nDuring the second quarter of 2022, Verisign processed 10.1 million new domain name registrations for .com and .net, as compared to 11.7 million for the same quarter of 2021.\n\n\nThe final ...