Yahoo Finance VeriSign (VRSN) to Report Q1 Earnings: What's in Store?
VeriSign, Inc VRSN is set to report first-quarter 2023 results on Apr 27, after the closing bell.
The Zacks Consensus Estimate for first-quarter earnings and revenues is pegged at $1.64 per share and $371.2 million, suggesting increases of 14.5% and 7%, respectively, from the year-ago quarter’s reported figures.
The company’s earnings beat the consensus estimate in all the last four quarters, the average beat being 4%.
VeriSign, Inc. Price and EPS Surprise
VeriSign, Inc. price-eps-surprise | VeriSign, Inc. Quote
Factors to Note
VeriSign’s first-quarter earnings are expected to have benefited from continued healthy growth across .com and .net domain name registrations. It is expected to have gained from growing Internet consumption globally. The company’s efforts to expand its critical infrastructure to tap the growing demand for DNS navigation services in industries like commerce, education and healthcare bode well.
VRSN ended fourth-quarter 2022 with 173.8 million .com and .net domain name registrations, up 0.2% year over year.
However, VeriSign’s new units’ growth is likely to have been affected by several factors including lower first-time renewal rates, unfavorable year-over-year comparisons, uncertainty related to global macroeconomic conditions and relative weakness in registrations from China.
In the last reported quarter, the company processed 9.7 million new domain name registrations for .com and .net compared with 10.6 million in the year-ago quarter.
Also, escalating operating expenses related to cybersecurity and infrastructure spending are likely to have weighed on the company’s first-quarter operating margin on a year-over-year basis.
What Does the Zacks Model Say?
Our proven model does not conclusively predict an earnings beat for VeriSign this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
VRSN has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a few companies that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this quarter.
Meta Platforms META has an Earnings ESP of +11.23% and currently flaunts a Zacks Rank of 1. META is set to announce quarterly figures on Apr 26. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Meta’s to-be-reported quarter’s earnings and revenues is pegged at $1.96 per share and $27.49 billion, respectively. Shares of META are up 17.5% in the past year.
Colgate-Palmolive Company CL has an Earnings ESP of +1.43% and presently carries a Zacks Rank #2. CL is slated to release quarterly numbers on Apr 28.
The Zacks Consensus Estimate for CL’s to-be-reported quarter’s earnings and revenues is pegged at 70 cents per share and $4.62 billion, respectively. Shares of CL are down 3.3% in the past year.
American Airlines Group AAL has an Earnings ESP of +85.71% and currently has a Zacks Rank #2. AAL is scheduled to report quarterly earnings on Apr 27.
The Zacks Consensus Estimate for AAL’s to-be-reported quarter’s earnings and revenues is pegged at 3 cents per share and $12.25 billion, respectively. Shares of AAL are down 29.2% in the past year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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VeriSign, Inc. (VRSN) : Free Stock Analysis Report
Colgate-Palmolive Company (CL) : Free Stock Analysis Report
American Airlines Group Inc. (AAL) : Free Stock Analysis Report
Meta Platforms, Inc. (META) : Free Stock Analysis Report
