(Reuters) -Internet services company VeriSign reported an over 7% rise in third-quarter revenue on Thursday, driven by steady demand for domain registrations as businesses build their online presence.
Businesses are increasingly looking to boost their online presence with easy-to-remember domain names, as users turn to the internet as their first point of contact for their services, benefiting domain registry service providers such as VeriSign.
VeriSign acts as the authoritative registry — meaning it is the sole registry — for .com and .net domains, and operates two of the 13 global internet root servers.
The company reported revenue of $419.1 million for the third quarter, ended September 30, a 7.3% increase from the $390.6 million reported in the same period last year.
Reston, Virginia-based VeriSign posted a net profit of $213 million, or $2.27 per share, for the quarter, up from $201 million, or $2.07 per share, reported a year ago.
VeriSign processed 10.6 million new domain name registrations for .com and .net in the quarter, compared to 9.3 million in the previous year.
(Reporting by Juby Babu in Mexico City; Editing by Alan Barona)
Comments