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VeriSign Leaps as it Trounces Estimates, Lifts Guidance


VeriSign (VRSN) - Get VeriSign, Inc. Report was up 11.5% in preopen Instinet trading after the company posted second-quarter earnings late Thursday of 25 cents a share, beating the Thomson Financial/First Call estimate of 14 cents and up from the year-ago 7 cents.

After charges, including a $9.9 billion write-down of acquisitions, the domain-name registrar and e-commerce company posted a net loss of $11.2 billion.

Verisign raised its guidance for the third-quarter to EPS of 16 cents from 15 cents. For the full year, it raised estimates to 60 to 63 cents from an earlier forecast of 56 to 60 cents.

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