- Verisign (VRSN, Financial) reports a 4.7% increase in revenue for Q1 2025, reaching $402 million.
- Net income rose to $199 million with diluted EPS increasing to $2.10 compared to the previous year.
- Initiation of a quarterly cash dividend of $0.77 per share declared, payable on May 28, 2025.
VeriSign, Inc. (VRSN), a leading provider of internet infrastructure services, announced a robust financial performance for the first quarter of 2025. The company's revenue rose to $402 million, marking a 4.7% increase from the same period in 2024.
The operating income for the quarter stood at $271 million, up from $259 million in the prior year. Meanwhile, net income reached $199 million, alongside a rise in diluted earnings per share (EPS) to $2.10, compared to $1.92 in the first quarter of the previous year.
Verisign also unveiled its plan to initiate a quarterly cash dividend. The first dividend of $0.77 per share will be distributed to shareholders on record as of May 19, 2025, with payments commencing on May 28, 2025. This move is seen as part of the company's ongoing effort to deliver value to its shareholders.
On the financing front, Verisign successfully issued $500 million in senior notes due in 2032, and utilized the proceeds, along with cash reserves, to repay the matured senior notes of the same amount.
By the end of the first quarter, Verisign reported a cash, cash equivalents, and marketable securities total of $649 million, reflecting an increase of $49 million from the end of 2024. Furthermore, cash flow from operations rose to $291 million, a notable increase from $257 million in the first quarter of the previous year.
In addition to financial growth, Verisign processed 10.1 million new domain registrations for .com and .net, indicating a significant uptick from 9.5 million in the first quarter of 2024, despite a slight decrease of 1.5% in overall domain name registrations to 169.8 million by the end of Q1 2025.
As part of its capital management strategy, Verisign repurchased one million shares at a total cost of $230 million during the first quarter. The company still has $793 million available for additional share buybacks.
