# VeriSign Stock (VRSN): The .com Monopoly Is Growing AGAIN and RAISED Guidance — So Why We Say HOLD

Page: https://stenobird.com/podcast/charged-alpha-stock-encyclopedia-7819792/verisign-stock-vrsn-the-com-monopoly-is-growing-again-and-raised-guidance-so-why-we-say-hold
Text version: https://stenobird.com/podcast/charged-alpha-stock-encyclopedia-7819792/verisign-stock-vrsn-the-com-monopoly-is-growing-again-and-raised-guidance-so-why-we-say-hold.md
Podcast: [Charged Alpha Stock Encyclopedia](https://stenobird.com/podcast/charged-alpha-stock-encyclopedia-7819792)
Published: 2026-07-24T03:37:52+00:00
Episode link: https://chargedalpha.podbean.com/e/verisign-stock-vrsn-the-com-monopoly-is-growing-again-and-raised-guidance-%e2%80%94-so-why-we-say-hold/
Audio file: https://mcdn.podbean.com/mf/web/q3e9d689odbyw61i/audio_p.mp3
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Duration seconds: 853

## Resource

VeriSign (VRSN) Q2 2026 — VeriSign (VRSN), the government-sanctioned monopoly operator of the .com and .net domain registries, reported a solid Q2 2026: diluted EPS of $2.38 (+8% YoY) narrowly missed the ~$2.42 estimate, but revenue rose 6.0% to $434.6M (a beat), operating income grew to $296.3M (a ~68% operating margin), and net income was $217M. The story was the domain name base turning back up: 179.1M .com/.net names (+5.1% YoY, +3.05M net in the quarter) with a near-record 12.7M new registrations (vs 10.4M a year ago), driven partly by AI startups claiming domains. Management RAISED full-year guidance — revenue to $1.745-1.755B, operating income to ~$1.19B, and domain-base growth raised and narrowed to 5.2-6.0% (from 3.1-4.3%). A multi-year pricing runway also just switched on: .com wholesale rises 7% to $10.97 on Nov 1, 2026, with up to 7%/yr allowed through 2030. VeriSign generates ~$1.0B FCF/yr, returns >100% of it to owners (bought back $197M in Q2, added $884M to the buyback for $1.5B authorized, pays a $0.81 dividend), and Berkshire Hathaway is its largest holder. The stock, ~$262, is down ~16% from its $312 high. The catch: at ~28x earnings for a mid-single-digit grower with a real regulatory overhang, our per-share owner-earnings DCF pegs fair value near $275 — only ~5% above the price. Our call: HOLD. VeriSign (VRSN) is one of the most unusual franchises in the market — the sole, government-contracted operator of the .com and .net domain registries, the master address book for most of the internet, with a 29-year record of 100% resolution uptime and operating margins near 68%. It's such a rare, durable monopoly that Warren Buffett's Berkshire Hathaway is its largest shareholder. Q2 2026 was solid with one small blemish: diluted EPS of $2.38 (+8% YoY) n…

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