Verisign gain: VRSN share is wound up after beating Q1 estimates

<p>Verisign (NASDAQ: VRSN) earnings for the first quarter of 2020 have VRSN shares moving after the markets closed on Thursday. This comes after reporting a diluted earnings per share (EPS) of $ 2.86 on revenue of $ 312.52 million. These are both better than Wall Street estimates of $ 1.28 per share and a turnover of $ 309.25 million.

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Let us look at the latest Verisign earnings report below.

Earnings after dilution per share increased by 111.85% compared to $ 1.35 reported in the first quarter of 2020. Revenue increased by 2% higher than $ 306.41 million from the same period last year. The operating profit of $ 206.26 million is an increase of 3% compared to the previous year from $ 200.25 million. The Verisign earnings report also includes a net profit of $ 334.12 million. This is an increase of 105.57% compared to the net result of $ 162.53 million from the same period the year before.

Jim Bidzos, President and CEO of Verisign, said this in the earnings report.

“During the COVID-19 crisis, we are taking a number of steps to support small businesses and our local communities. At Verisign, we remain focused on the health and well-being of our employees and our primary mission, which is the safe and reliable operation of critical Internet infrastructure. ”

There is no guidance update in the Verisign results report for the first quarter of 2020. Many companies have not provided prospects due to how the new coronavirus affects the economy.

The VRSN share moved after Thursday Thursday.

At the time of writing, William White had no position in any of the above securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/04/verisign-earnings-vrsn-stock/.

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