Verisign Reports Steady Revenue Growth in 2024

Verisign ( (VRSN) ) has released its Q4 earnings. Here is a breakdown of the information Verisign presented to its investors.

Verisign, Inc. is a global provider of critical internet infrastructure and domain name registry services, known for ensuring the security and stability of key internet functions, particularly the .com and .net domains.

In its latest earnings report, Verisign announced its financial results for the fourth quarter and full year 2024. The company reported steady growth in revenue and operating income, reflecting its continued role as a key player in internet infrastructure services.

For the fourth quarter of 2024, Verisign’s revenue increased to $395 million, marking a 3.9% rise compared to the previous year. Operating income for the same period was $264 million, slightly up from $256 million in 2023. The full year revenue reached $1.56 billion, a 4.3% increase from 2023, with operating income reaching $1.06 billion. Despite a decrease in net income to $786 million for 2024 due to the absence of prior year tax benefits, the company’s earnings per share rose to $8.00, up from $7.90 in 2023.

Strategically, Verisign renewed its critical agreements, including the .com Registry Agreement with ICANN and the Cooperative Agreement with the NTIA, securing its position as a leading domain registry operator through 2030. While domain registrations saw a slight decrease, the company’s financial stability was highlighted by substantial cash flow from operations and significant share repurchases.

Looking ahead, Verisign remains focused on maintaining its leadership in internet infrastructure, supported by strategic agreements and a commitment to service reliability. The management’s focus on long-term contracts and financial prudence positions the company well for future endeavors in the evolving digital landscape.