Saturday , October 1 2022

Verisign has another strong quarter, raises guidance

.Com domain registrations continue to outpace prior years.

A chart showing continued growth of .com and .net

Verisign continued to grow its domain base in Q2. Chart from Verisign investor presentation.

Verisign (NASDAQ: VRSN) reported second quarter 2021 earnings after the market closed today.

The company reported another robust quarter, with 11.7 million new .com and .net domains registered in Q2. That compares to 11.1 million in the same quarter last year. Verisign ended the quarter with 170.6 million .com and .net domain name registrations in the domain name base, a 5.2% increase from the end of the second quarter of 2020, and a net increase of 2.59 million during the second quarter of 2021.

Reported revenue was $329 million, up 4.8% from the same quarter in 2020.

Revenue will start growing faster in Q3 as Verisign increases the wholesale cost of .com domains by 7% on September 1. The impact will aggregate over time and boost the company’s already stellar operating margin of about 65%.

The company boosted annual guidance for revenue and domain base growth based on the results and its forecast for the remainder of the year.

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