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VeriSign Swings To Profit On Core Strength

DOW JONES NEWSWIRES VeriSign Inc. (VRSN) swung to a third-quarter profit as it benefited from strength in its core businesses. But shares fell 2.3% to $23.45 after-hours as revenue fell just short of analysts' expectations. The stock, hovering just below its 52-week high from two weeks ago, is up about one-quarter this year. The company has been shedding its low-growth businesses to focus on Web certificates and its Internet registry. However, the core Internet registry business faces renewed antitrust concerns after a federal appeals court in June reversed the dismissal of a suit filed by a nonprofit group of domain-name stakeholders. "As we enter the last quarter of 2009, and with our divestitures essentially behind us, we are focused on growing VeriSign's core businesses," said President and Chief Executive Mark McLaughlin. VeriSign reported earnings of $53.6 million, or 28 cents a share, compared with a loss of $201.1 million, or $1.03 a share, a year earlier, when the company had a $242.6 million loss from discontinued operations. The latest quarter had a net 5 cents in charges. Revenue increased 4.9% to $258 million. The core businesses recorded 6% growth. Analysts polled by Thomson Reuters expected earnings, excluding items, of 32 cents on revenue of $259 million. -By Jay Miller, Dow Jones Newswires; 212-416-2355; [email protected]

Stock News for Verisign (VRSN)
01/03/201716:05:00Verisign to Report Fourth Quarter and Full Year 2016 Financial...
11/15/201616:43:52Statement of Changes in Beneficial Ownership (4)
11/03/201616:49:49Statement of Changes in Beneficial Ownership (4)
10/27/201616:45:36Quarterly Report (10-q)
10/27/201616:12:31Current Report Filing (8-k)
10/27/201616:05:00Verisign Reports Third Quarter 2016 Results
10/24/201618:35:35Statement of Changes in Beneficial Ownership (4)
10/24/201618:32:44Statement of Changes in Beneficial Ownership (4)
10/24/201618:30:23Statement of Changes in Beneficial Ownership (4)
10/20/201616:13:05Current Report Filing (8-k)
10/03/201616:05:00Verisign to Report Third Quarter 2016 Financial Results
09/15/201616:10:00Internet Grows to 334.6 Million Domain Name Registrations in...
08/15/201616:05:00Verisign Announces 3.25% Junior Subordinated Convertible Debentures...
08/03/201617:04:14Statement of Changes in Beneficial Ownership (4)
08/01/201606:00:00Verisign Statement Regarding .Web Auction Results
07/28/201617:26:59Statement of Changes in Beneficial Ownership (4)
07/28/201617:24:46Statement of Changes in Beneficial Ownership (4)
07/28/201617:23:00Statement of Changes in Beneficial Ownership (4)
07/28/201617:21:17Statement of Changes in Beneficial Ownership (4)
07/28/201617:14:21Statement of Changes in Beneficial Ownership (4)

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