Verisign, the registry for .com and .net domain names, has released its Q2 earnings, announcing a revenue of $410 million, which reflects a 5.9% increase from the same quarter in the previous year. The company processed 10.4 million new registrations for .com and .net in the quarter, resulting in a slight increase in the total domain base by 0.66 million, bringing it to 170.5 million. Despite this growth, the year-over-year comparison shows a decline.
The growth rate has slowed compared to Q1, where an increase of 0.78 million domains was noted. It’s noteworthy that the growth in the domain base came solely from .com, while the .net domain count remained stable at 12.6 million.
In light of these results, Verisign has raised its guidance for the year, anticipating a total domain base growth between 1.2% and 2.0%, an update from the previous forecast of a potential decline of 0.7% to an increase of 0.9%. Additionally, the company has revised its revenue and operating profit expectations upward.
Verisign also announced its second consecutive quarterly dividend and plans for further share buybacks, signaling confidence in its ongoing performance.
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