Q2 wasn’t as bad as thought.
Domain name company CentralNic (London AIM: CNIC) announced today that its first-half 2020 revenue will be more than $110 million. This is more than it generated in all of 2019.
The revenue jump is largely due to acquisitions, the biggest of which was Team Internet. Team Internet operates domain monetization companies ParkingCrew and Tonic.
The results are somewhat of a surprise. CentralNic hired research firm Edison Investment Research to cover the company, and its initial report forecasted about $100 million revenue for the half. Edison predicted a drop in Q2 due to challenges with online ads during the pandemic.
Apparently, the ad landscape was better than expected during the quarter.
CentralNic will report its full results for the half on September 1.