Verisign Quarterly Results Continue Show 4.3% Increase in .COM/.NET Registrations In 12 Months
Posted in: Domain Names at 26/07/2019 22:34
Verisign released their results for the second quarter of 2019 which showed a continuing growth in registration numbers for their 2 big top-level domains – .com and .net (combined). For the quarter combined registrations for .com and .net grew 4.3% from the end of the second quarter of 2018, and a net increase of 1.34 million. While Verisign don’t break out registration numbers for each TLD, going by figures in the company’s Domain Name Industry Brief, the growth would have been in .com and there would have been a decline in .net.
During the second quarter of 2019, Verisign reported they processed 10.3 million new domain name registrations for .com and .net, compared to 9.6 million for the same quarter in 2018.
The final .com and .net renewal rate for the first quarter of 2019 was 75.0% compared with 75.3% for the same quarter in 2018. Renewal rates are not fully measurable until 45 days after the end of the quarter.
In the financial highlights Verisign reported, on a non-GAAP basis, net income of $159 million and diluted EPS of $1.33 for the second quarter of 2019, compared to net income of $145 million and diluted EPS of $1.18 for the same quarter in 2018. The non-GAAP operating margin was 70.1% for the second quarter of 2019 compared to 68.2% for the same quarter in 2018.
Verisign reported ending the second quarter with cash, cash equivalents and marketable securities of $1.22 billion, a decrease of $45 million from the end of 2018. Cash flow from operating activities was $165 million for the second quarter of 2019, compared to $202 million for the same quarter in 2018. Deferred revenues as of June 30, 2019 totaled $1.05 billion, an increase of $32 million from the end of 2018.
During the second quarter of 2019, Verisign repurchased 0.9 million shares of its common stock for an aggregate cost of $175 million. As of June 30, 2019, there was $716 million remaining for future share repurchases under the share repurchase program which has no expiration date.