Growth in base outpaces Verisign’s forecast.
Verisign (NASDAQ: VRSN), the domain name registry for .com and .net domain names, reported results for Q3 after the bell today.
The total base of registered .com and .net domain names increased 1.47 million over the quarter. Verisign had forecast growth of 0.8 million to 1.3 million registrations, so it continued its trend of coming in above its forecast. The company forecasts an increase of 0.4 million to 0.9 million in Q4 2017. If I were an analyst, I’d probably peg it at about 1.0 million.
There were 8.9 million new domain name registrations for .com and .net in the quarter, compared to 8.3 million for the same quarter in 2016 and 9.2 million last quarter.
Verisign’s Q3 revenue was $292 million, up 1.7 percent from the same quarter in 2016.