Investors liked Tucows’ earnings report.
Shares in Tucows (NASDAQ:TCX) shot up 12% today to close at $59.20 after the company reported earnings yesterday afternoon.
The company’s record earnings per share and revenue were driven primarily by its acquisition of domain name reseller platform Enom earlier this year. Combined with Tucows’ OpenSRS reseller platform and retail service Hover, Tucows is now the second largest domain name registrar behind GoDaddy.
Even without Enom, the company reported strong numbers in its domain name business.
Tucows diversified into mobile and broadband service many years ago with its Ting brand and continues to be bullish on delivering local internet service as it expands to more towns.