- Though Verisign (NASDAQ:VRSN) missed Q2 revenue estimates (while beating on EPS), it guided on its CC (transcript) for full-year revenue of $1.003B-$1.012B, in-line with a $1.01B consensus. In addition, full-year op. margin guidance was hiked by 100 bps to 59%-61%.
- $300M was spent on buybacks in Q2, fueling the EPS beat. Verisign is adding $491M to its buyback authorization, raising its size to $1B. The company has $1.5B in cash to finance buybacks with.
- Q2 domain name net adds totaled 420K, towards the low end of a 300K-800K guidance range. But Verisign expects net adds to grow to 600K-1.1M in Q3.
- Total active .com/.net domain names amounted to 128.9M at the end of Q2, +3.7% Y/Y. However, processed domain names slipped by 200K Y/Y to 8.5M, and the company discloses renewal rate fell 60 bps in Q1 to 72.6%. The deferred revenue balance is up $35M YTD to $890M.
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Q2 results, PR