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Verisign Announces Strong Growth In Quarterly Financial Results

Verisign logoVerisign reported 13 per cent year-on-year revenue growth to the end of the second quarter of 2012, signed a new .COM registry agreement with ICANN and added 1.81 million new .COM and .NET domain names, taking the total registrations to 118.5 million, according to the highlights of its second quarter financial results released yesterday.

Regarding the renewal of the .COM registry agreement, Verisign noted the US Department of Commerce is now reviewing its renewal under the terms of the Cooperative Agreement between the Department and Verisign.

Registrations of .COM and .NET domain names continue to grow strongly, with 1.81 million net new names added during the second quarter with approximately 118.5 million active .COM and .NET domain names, representing a 7.8 per cent increase year-over-year.

In the second quarter, Verisign processed a second quarter record 8.4 million new domain name registrations, representing an increase of 4.2 percent year-over-year.

Growth is expected to be strong for the two TLDs with Verisign expecting to add between 1.6m and 1.9m new names for the third quarter.

“The second quarter results demonstrate our continued strong operating performance and financial discipline,” commented Jim Bidzos, executive chairman, president and chief executive officer of Verisign. “Our share repurchases in the quarter, of $76 million, underscore our commitment to creating and delivering shareholder value.”

The Verisign news release announcing the results along with further information is available from the Verisign website here.