Verisign posts Q2 results in line with expectations
Verisign, which provides domain name registry services and internet infrastructure, published second quarter financial results largely in line with expectations.
The Reston, Va.-based company reported net income of $148 million and diluted earnings per share of $1.31 for the second quarter. Revenue came to $329 million, up 4.8% from the same quarter in 2020.
Analysts were expecting earnings of $1.32 on revenue of $327.95 million.
Cash flow from operating activities in Q2 was $143 million, compared to $215 million a year prior. Deferred revenues as of June 30, 2021 totaled $1.11 billion, an increase of $50 million from the end of 2020.
Verisign ended Q2 with 170.6 million .com and .net domain name registrations in the domain name base, a 5.2% increase from a year prior, and a net increase of 2.59 million during the second quarter.
During the second quarter of 2021, Verisign processed 11.7 million new domain name registrations for .com and .net, compared to 11.1 million for the same quarter in 2020.
The final .com and .net renewal rate for the first quarter of 2021 was 76% compared to 75.4% for the same quarter in 2020. Renewal rates are not fully measurable until 45 days after the end of the quarter.