Summary by Moomoo AI
VeriSign reported Q3 2024 revenue of $391 million, up 3.8% YoY, with operating income increasing to $269 million from $254 million in Q3 2023. Net income reached $201 million with diluted EPS of $2.07, compared to $188 million and $1.83 EPS in the same quarter last year. Cash flow from operations was $253 million.The company ended Q3 with 169.6 million .com and .net domain name registrations, showing a 2.5% YoY decrease and a net decrease of 1.1 million domains during the quarter. The renewal rate for Q2 2024 was 72.7%, down from 73.4% in the previous year. New domain name registrations totaled 9.3 million, compared to 9.9 million in Q3 2023.Financial position remained strong with $645 million in cash and marketable securities, though down $281 million from year-end 2023. The company continued its share repurchase program, buying back 1.7 million shares for $301 million, with $1.28 billion remaining for future repurchases.
