Summary of Verisign Reports Fourth Quarter and Full Year 2022 Results
- VeriSign reported revenue of $369 million for the fourth quarter of 2022, up 8.5 percent from the same quarter in 2021.
- VeriSign reported net income of $674 million and diluted EPS of $6.24 for 2022, compared to net income of $785 million and diluted EPS of $7.00 in 2021.
- Verisign ended 2022 with cash, cash equivalents, and marketable securities of $980 million, a decrease of $225 million from year-end 2021.
VeriSign, Inc. (NASDAQ: VRSN) reported revenue of $369 million for the fourth quarter of 2022, up 8.5 percent from the same quarter in 2021. For full year 2022, VeriSign reported revenue of $1.42 billion, up 7.3 percent from 2021.
Net Income Overview
Verisign reported net income of $179 million and diluted earnings per share (diluted “EPS”) of $1.70 for the fourth quarter of 2022, compared to net income of $330 million and diluted EPS of $2.97 for the same quarter in 2021. Net income for the full year was reported at 674 million with a diluted EPS pf 6$24 compared to 785million and an Diluted EPS pf 7$00 in 2021.. The increasein Net Income is mainly attributed by recognition off deferred taxes related to transferof non US intellectual property between subsidiaries which increased Net Income by165.5million and increased Diluted EPS by 1$48 in both quarters respectively .
Cash FlowCash flow from operations was recorded as 217 Million dollars for 4th Qtr Of 2022and 831Million dollarsfor full year2022 . Comparedto 206Million dollarsfor 4thQtrof2021and 807Milliondollarsfor fullyear2021respectively .
Deferred RevenuesDeferred revenues as Of December 31st ,2022 totaled 1$22Billion ,anincreaseof 66Millionsfromyear end2021 .
< h 2 >Conclusion h 2 > In summary , VeriSign had a successful financial performanceinbothquartersandfullyearof2022withrevenuegrowth8%inthe4thquarterand7%forthefullyear .Thecompanyalsoreportedstrongcashflowoperationsandsolidnetincomeresultsfortheperiodsmentionedabove .