VeriSign profit falls slightly back despite higher revenues in Q4

VeriSign said revenues for the fourth quarter advanced 3.2 percent from the year earlier to USD 296 million. Net profit meanwhile slipped to USD 103 million or USD 0.83 per share, from 106 million and 0.84 per share the year before. The operating margin went higher to 59.7 percent from 59.0 percent.

For the full year, revenues rose to USD 1.17 billion from 1.14, with the net profit lifting to USD 457 million or 3.68 per share, from 441 million and 3.42 per share.

With the new US tax reform, VeriSign said it will repatriate USD 1.1 billion worth of cash held by foreign subsidiaries. With the reform, the company took a tax hit of USD 196 million offset by a tax benefit of USD 187 million.