The following is a summary of the VeriSign, Inc. (VRSN) Q2 2024 Earnings Call Transcript:
Financial Performance:
VeriSign reported Q2 2024 revenue of $387 million, a growth of 4.1% year-over-year.
Operating income grew by 7.1% year-over-year to $266 million.
Earnings per share increased to $2.01, up 12.3% from the previous year.
Domain name base in .com and .net decreased by 1.8 million names compared to the previous quarter.
Business Progress:
Celebrated 27 years of 100% uninterrupted availability for .com and .net domain name resolution systems, handling 328 billion queries per day.
Launched new registrar marketing programs targeted at overcoming weaker trends and returning to domain name base growth in 2025.
Opportunities:
New registrar marketing initiatives in the U.S. launched, aimed at improving new registration trends.
Anticipated modifications and enhancements in upcoming programs for 2025 to better align with registrar needs and market demands.
Risks:
U.S. registrars focusing on Average Revenue Per User (ARPU) impacting renewal rates and new registrations negatively.
Continued weakness in the China market contributing predominantly to the decline in domain name base.
More details: VeriSign IR
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