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ECT News Community   »   E-Commerce Times Talkback   »   Re: VeriSign Earnings Report Sends Shares Diving

Re: VeriSign Earnings Report Sends Shares Diving
Posted by: Teri Robinson 2002-04-29 09:02:14
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VeriSign shares plummeted more than 45 percent after the company announced worse than
expected first-quarter results and lowered its guidance for the second quarter. The
company recorded a net loss of $328 million for the first quarter. VeriSign chairman,
president and CEO Stratton Sclavos said the company will initiate a "proactive
restructuring" that will result in a 10 percent workforce reduction.

Re: VeriSign Earnings Report Sends Shares Diving
Posted by: lfleming 2002-04-29 16:45:28 In reply to: Teri Robinson
Let's see. Customers are discovering that VeriSign's security certification is a buncha baloney - a lot of money for what amounts to displaying an image on a website with a link to a web page with a little bit of whois-type information - and nothing else.
And website owners are leaving Network Solutions in droves as they discover 1) owning a domain is no guarantee that it won't be sold out from under you even though all the fees are paid up and 2) even though NS says vital information, such as domain server information, absolutely cannot be changed without express authorization from the domain owner or the administrator, it somehow gets changed anyway.
VeriSign managed to muck up its cash cow (the registrar business). It's probably mucking up the other businesses it's gobbling as well. I'm glad I don't own shares in this company.
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When considering the credibility of an article I read online, I am most influenced by...
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