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What's Going On With VeriSign Shares Friday?

Benzinga · 04/25 17:27

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VeriSign, Inc. (NASDAQ:VRSN) shares are trading higher on Friday after the company reported better-than-expected first-quarter earnings on Thursday after the market closed.

What To Know: The company reported earnings per share of $2.10, beating analysts’ estimate of $2.09. In addition, the company reported sales of $402.30 million, beating analysts’ estimate of $400.44 million.

VeriSign reported cash flow from operations of $291 million. It also ended the quarter with $649 million in cash, cash equivalents and marketable securities.

The company initiated a quarterly cash dividend of 77 cents per share.

Outlook: The company raised its sales guidance for fiscal-year 2025. It previously expected sales from $1.61 billion to $1.64 billion. It now expects sales from $1.64 billion to $1.65 billion, versus analysts’ estimate of $1.62 billion.

VRSN Price Action: At the time of writing, VeriSign shares are trading 8.43% higher at $273.88, according to data from Benzinga Pro.

Image: via Shutterstock

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