New registrations and renewal rate dip.
Verisign reported first quarter earnings today after the bell. The company reported revenue of $249 million, a 5% increase from the first quarter of 2013.
The company added 1.28 million net new names during the first quarter to .com and .net, ending the quarter with 128.5 million active domain names in the zone.
Some other metrics weren’t as rosy.
Verisign processed 8.6 million new domain name registrations for .com and .net last quarter. That’s below the 8.8 million number in the same period in 2013.
The final renewal rate from Q4 2013 also dipped. The renewal rate was 72.2 percent compared with 72.9 percent Q4 2012.
I suspect the company will blame changes in monetization on its conference call this afternoon. A bigger question going forward is if new top level domain names can siphon off some of those 8.6 million quarterly registration.