Versign reports earnings, including a strong quarter for new registrations.
Verisign (NASDAQ: VRSN), the domain name registry for .com and .net domain names, announced third quarter earnings after the market closed today.
Revenue was up 3.1% year-over-year to $318 million. The company’s topline generally moves slowly but should spike next year as it implements a 7% price hike on .com domain names.
Profit increased from $154 million in Q3 2019 to $171 million in Q3 2020, aided by a $24 million income tax benefit. This suggests that profit would have actually decreased without the tax benefit. It will be interesting to see the P&L when it’s published.
The quarter ended with 163.7 million .com and .net domain names under management, up 4% year-over-year, and up by 1.65 million domains quarter-over-quarter. 10.9 million new domains were registered in .com and .net during the quarter. That’s a million more than were registered in Q3 2019.
The total base of .com domain names eclipsed 150 million last month.