VeriSign's quarterly revenue rises on steady demand for domain names
Feb 5 (Reuters) - VeriSign VRSN.O reported a 7.5% increase in fourth-quarter revenue on Thursday, driven by stable demand for its widely used domain names as businesses grow their online operations.
Enterprises are expanding their digital presence by acquiring and renewing domain names to reach a wider online audience, benefiting providers such as VeriSign.
VeriSign operates critical internet infrastructure as the exclusive registry operator for the ".com" and ".net" domains. It also operates two of the world's 13 global internet root servers.
It processed 10.7 million new domain registrations for ".com" and ".net" in the fourth quarter, compared to 9.5 million in the year-ago period.
Growth in the company's domain name base suggests that demand for digital presence remains a priority for businesses globally.
The company generates revenue by charging registrars, such as GoDaddy, a fixed fee for each new domain registration and every annual renewal.
Reston, Virginia-based VeriSign's fourth-quarter revenue came in at $425 million, higher than the $395 million reported in the same quarter in 2024.
It posted a profit of $2.23 per share for the quarter ended December 31, from $2 per share reported last year.
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