(Reuters) – Internet services company VeriSign reported a 3.9% rise in fourth-quarter revenue on Thursday, fueled by steady demand for domain registrations as businesses amplify their online presence, sending its shares 1% higher in extended trading. An increasing number of businesses are expanding their digital presence by acquiring and renewing domain names to reach a […]
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Verisign’s fourth-quarter revenue rises 4% on steady demand for new domain names
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(Reuters) – Internet services company VeriSign reported a 3.9% rise in fourth-quarter revenue on Thursday, fueled by steady demand for domain registrations as businesses amplify their online presence, sending its shares 1% higher in extended trading.
An increasing number of businesses are expanding their digital presence by acquiring and renewing domain names to reach a wider online audience, benefiting domain registry service providers such as VeriSign.
VeriSign primarily manages the domain-name registries for two of the internet’s most valuable domains, .com and .net, and also operates two of the world’s 13 global internet root servers.
The company reported revenue of $395.4 million for the fourth quarter ended December 31, about 4% higher than the $380.4 million reported a year ago.
The Reston, Virginia-based company posted a profit of $2 per share for the quarter, down from $2.60 per share it reported in the same period last year.
VeriSign processed 9.5 million new domain name registrations for .com and .net in the fourth quarter, compared to 9 million a year ago.
(Reporting by Priyanka.G and Akash Sriram in Bengaluru; Editing by Mohammed Safi Shamsi)