VeriSign’s Q1 revenue drops 4% from year earlier Q1
Revenue at VeriSign Inc., a provider of Internet security and domain management services, declined 4% to $373.6 million for the first quarter ended March 31, the company said.
Net income declined 68% year-over-year to $15.7 million from $49.2 million. The decline coincided with increases of $30 million in research-and-development costs and $15 million in stock-based compensation.
VeriSign said it issued about 143,000 new and renewed web site security certificates in the first quarter, ending the quarter with more than 508,000 certificates, up from 489,000 at the end of the prior quarter and up 10% year-over-year.
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