Market happy with results at two domain name companies.
Two publicly traded domain name companies have seen a nice bounce in their stock prices after reporting earnings.
Tucows reported net income of 3 cents per share for the fourth quarter of 2009 on February 16 after the market closed. It also reported $2.88 million of cashflow from operations. Shares of Tucows bounced 15% the following day to $.77, and then another 21% the following day to close at $.93. That’s a two day gain of nearly 40%. (Shares are off in early trading today.)
Marchex reported earnings after the bell yesterday that exceeded analyst’s expectations. Excluding one-time charges, the company earned 4 cents per share last quarter. Analysts had predicted three cents per share. The company also announced first quarter revenue guidance slightly higher than analysts were expecting. Shares of Marchex are up 6% in early trading today.
Disclosure: I own shares in a number of domain name company stocks.