Company reports declining domain name revenue.
Tucows (NASDAQ: TCX) reported earnings this afternoon.
Tucows Domains revenue declined 2% year over year to $64.1 million. The Wholesale and Value Added Services segments both declined, but the retail business grew slightly.
Although revenue was down, gross profit for domains increased by 2% to 18.6 million.
The company said the contribution from its expired domain name inventory moderated compared to the same quarter a year ago. Additionally, it completed the migration of the Radix registry portfolio to its registry services platform in mid-March. Revenue from that business flows through its Wholesale segment.
Tucows ended the quarter with 21.5 million domains under management, including domains on other companies’ accreditations registered through the Tucows platform.
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