Domain registry ups the lower end of its revenue guidance for the year.
Verisign (NASDAQ: VRSN) reported first quarter earnings this afternoon.
The company ended the quarter with 174.8 million domains in the .com/.net base, which was 1.0 million more than it ended 2022. 161.6 million of those are .com domains.
It processed 10.3 million domains in the quarter, compared to 10.2 million in the same quarter a year ago.
Q1 revenue clocked in at $364 million, up 5.1% from the same quarter in 2022. Net income was $179 million.
For the year, Verisign raised the lower end of its revenue guidance. It’s now guiding to $1.490 billion to $1.505 billion; narrowed from $1.485 billion to $1.505 billion. It expects total domain base growth of 0.5% to 2.25%; narrowed from 0.0% to 2.5%.