Internet infrastructure provider Verisign's Q3 revenue slightly beats estimates

VeriSign

Today 21:13

Overview
Internet infrastructure provider's Q3 revenue rose 5.7% yr/yr, a slight beat versus analyst expectations
Diluted EPS increased to $2.35 from $2.27 a year ago
Company repurchased 0.7 mln shares for $189 mln during the quarter

Outlook
Company did not provide specific guidance or outlook for future quarters or full year in the press release

Result Drivers
DOMAIN REGISTRATION GROWTH - Co said domain name base grew 6.1% yr/yr to 182.5 mln .com and .net registrations, with 13.1 mln new registrations in the qtr

Company press release: ID:nBw2mWvLwa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Slight Beat*
$443 mln
$440.57 mln (4 Analysts)
Q3 EPS
 
$2.35
 
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the it services & consulting peer group is "buy"
Wall Street's median 12-month price target for VeriSign, Inc. is $338.00, about 10% above its October 21 closing price of $307.25
The stock recently traded at 29 times the next 12-month earnings vs. a P/E of 25 three months ago

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)