Revenue and earnings remain robust despite the pandemic.
Verisign (NASDAQ: VRSN) reported first quarter earnings yesterday after the market closed.
The registry operator processed 10.0 million new .com and .net transactions during the quarter and the base of registered domains increased by 1.83 million. There were 160.7 million .com and .net domains registered at the end of Q1, including 147.3 million .com domains.
First quarter revenue was $313 million, up 2% from the same quarter in 2019.
Operating margin improved to 66.0%, up from 65.4% in Q1 2019.
Verisign still forecasts $1.25 billion to $1.265 billion revenue for the year but has narrowed its expected domain base growth to 2% to 3.75%, from 2.0% to 4.0%. It is being conservative due to the Covid-19 crisis and economic upheaval.
The company turned in $1.232 billion revenue in 2019.