Verisign, Inc. (NASDAQ:VRSN) released its earnings report for the three months ended June 30 this afternoon following the ringing of the bell on Wall Street. The company showed earnings of 58 cents per share for the three month period. Revenue for the second quarter came in at $239 million. On today’s market, stock in Verisign, Inc. (NASDAQ:VRSN) trended up, finishing the day at $45.93 per share.
In anticipation of this earnings report, analysts following the internet services company were looking for earnings of 55 cents per share. Revenue was expected to come in at $237 million for the second quarter. The April-June period in 2012 saw the company bring in 45 cents per share on revenue totaling $237 million.
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Verisign of the past
Verisign, Inc. (NASDAQ:VRSN) operates a business that is such an embedded part of internet infrastructure that there is little chance of it going away, but its domain naming and other internet-based businesses are almost a thing of the past on the consumer side. The company’s stock has grown in line with the Nasdaq and the S&P 500 this year. In internet terms, Versign is a structurally necessary business and its growth opportunities are not easily found.
Despite its position in the internet of the past, Verisign, Inc. (NASDAQ:VRSN) is an essential company for internet infrastructure for the foreseeable future. The company doesn’t need to grow in exciting new businesses as long as it can hold onto the ones it already controls. Earnings are expected to grow in the coming years with $1.97 per share recorded in 2012, $2.25 per share expected this year, and $2.52 expected next year.
Verisign, Inc. (NASDAQ:VRSN) executives will host an earnings call to discuss this report at 5:30 PM. Investors and analysts will question the company about its guidance for the next quarter and growth prospects for the years ahead.