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Factors to Note Ahead of VeriSign's (VRSN) Q2 Earnings Release
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VeriSign, Inc (VRSN - Free Report) is set to report second-quarter 2023 results on Jul 27, after the closing bell.
The Zacks Consensus Estimate for second-quarter earnings and revenues is pegged at $1.7 per share and $372 million, suggesting increases of 10.4% and 5.7%, 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 4.2%.
VeriSign’s second-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 first-quarter 2023 with 174.8 million .com and .net domain name registrations, up 0.1% year over year. Our estimate for domain name base for the second quarter is pegged at 176.8 million, representing a rise of 1.4% year over year.
In the last reported quarter, the company processed 10.3 million new domain name registrations for .com and .net compared with 10.2 million in the year-ago quarter. Our estimate for new domain name registrations for the second quarter is pegged at 9.4 million.
Also, escalating operating expenses related to cybersecurity and infrastructure spending are likely to have weighed on the company’s second-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. However, this is not the case here.
VRSN has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell). 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.
The Zacks Consensus Estimate for TYL’s to-be-reported quarter’s earnings and revenues is pegged at $1.86 per share and $490.7 million, respectively. Shares of TYL have rallied 20.8% in the past year.
Chipotle Mexican Grill (CMG - Free Report) has an Earnings ESP of +0.70% and a Zacks Rank #2. CMG is scheduled to report earnings on Jul 26.
The Zacks Consensus Estimate for CMG’s to-be-reported quarter’s earnings and revenues is pegged at $12.25 per share and $2.52 billion, respectively. Shares of CMG have gained 57.9% in the past year.
Meta Platforms (META - Free Report) has an Earnings ESP of +5.83% and currently carries a Zacks Rank #2. META is set to report its second-quarter 2023 results on Jul 26.
The Zacks Consensus Estimate for META’s to-be-reported quarter’s earnings and revenues is pegged at $2.87 per share and $30.9 billion, respectively. Shares of META have gained 159.3% year to date.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Factors to Note Ahead of VeriSign's (VRSN) Q2 Earnings Release
VeriSign, Inc (VRSN - Free Report) is set to report second-quarter 2023 results on Jul 27, after the closing bell.
The Zacks Consensus Estimate for second-quarter earnings and revenues is pegged at $1.7 per share and $372 million, suggesting increases of 10.4% and 5.7%, 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 4.2%.
VeriSign, Inc. Price and EPS Surprise
VeriSign, Inc. price-eps-surprise | VeriSign, Inc. Quote
Factors to Note
VeriSign’s second-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 first-quarter 2023 with 174.8 million .com and .net domain name registrations, up 0.1% year over year. Our estimate for domain name base for the second quarter is pegged at 176.8 million, representing a rise of 1.4% year over year.
In the last reported quarter, the company processed 10.3 million new domain name registrations for .com and .net compared with 10.2 million in the year-ago quarter. Our estimate for new domain name registrations for the second quarter is pegged at 9.4 million.
Also, escalating operating expenses related to cybersecurity and infrastructure spending are likely to have weighed on the company’s second-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. However, this is not the case here.
VRSN has an Earnings ESP of 0.00% and a Zacks Rank #4 (Sell). 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.
Tyler Technologies (TYL - Free Report) has an Earnings ESP of +0.54% and currently sports a Zacks Rank #1. TYL is scheduled to report quarterly numbers on Jul 26. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for TYL’s to-be-reported quarter’s earnings and revenues is pegged at $1.86 per share and $490.7 million, respectively. Shares of TYL have rallied 20.8% in the past year.
Chipotle Mexican Grill (CMG - Free Report) has an Earnings ESP of +0.70% and a Zacks Rank #2. CMG is scheduled to report earnings on Jul 26.
The Zacks Consensus Estimate for CMG’s to-be-reported quarter’s earnings and revenues is pegged at $12.25 per share and $2.52 billion, respectively. Shares of CMG have gained 57.9% in the past year.
Meta Platforms (META - Free Report) has an Earnings ESP of +5.83% and currently carries a Zacks Rank #2. META is set to report its second-quarter 2023 results on Jul 26.
The Zacks Consensus Estimate for META’s to-be-reported quarter’s earnings and revenues is pegged at $2.87 per share and $30.9 billion, respectively. Shares of META have gained 159.3% year to date.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.