VeriSign’s A Victim Of High Expectations

VeriSign, which has acquired three companies in the last year to move into mobile content an services arena, took a beating at the Street today, despite better than expected earnings.
For some reason, the analysts expected mobile content revenues for the company to be north of the $100 million mark, but the company ultimately delivered $94 million (from its acquisition of Jamba). Piper Jaffray analyst Gene Munster said the selloff was unwarranted because the Street had assumed some sales from the U.S. launch of VeriSign’s Jamster! mobile content service that didn’t materialize. But the division still posted 27 percent sequential growth.
Some more details in the earnings release, here, and the Q4 conference call, here
Related:
VeriSign Buying LightSurf For $270 Million

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