Yahoo Finance VeriSign First Quarter 2024 Earnings: EPS Beats Expectations
VeriSign (NASDAQ:VRSN) First Quarter 2024 Results
Key Financial Results
Revenue: US$384.3m (up 5.5% from 1Q 2023).
Net income: US$194.1m (up 8.6% from 1Q 2023).
Profit margin: 51% (up from 49% in 1Q 2023). The increase in margin was driven by higher revenue.
EPS: US$1.93 (up from US$1.70 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
VeriSign EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.3%.
Looking ahead, revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the IT industry in the US.
Performance of the American IT industry.
The company's shares are down 4.7% from a week ago.
Valuation
VeriSign's financial results now indicate the company's shares could present an opportunity based on 6 important indicators. You can access our in-depth analysis and discover what the outlook is like for the stock by clicking here.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
