VeriSign (VRSN) Reveals Q1 Domain Name Registration Numbers
Zacks Investment Research | Jul 19, 2017 11:15PM ET
VeriSign (NASDAQ:VRSN) recently announced that more than 1.3 million domain names were registered in first-quarter 2017.
According to the latest “The Domain Name Industry Brief”, domain name registrations increased 0.4% sequentially to approximately 330.6 million across all top-level domains (TLDs) at the end of the quarter. Domain name registrations increased 11.8 million, or 3.7%, year over year.
Country Code Top-Level Domains (“ccTLDs”) increased 1.7% year over year and 0.3% sequentially to 143.1 million in Mar 2017 quarter. The growth was across all Top-Level Domains (TLDs) as both .com and .net grew during the quarter. On a combined basis, .com and .net domain names improved 0.8% year over year to approximately 143.6 million in the first quarter.
Domain Registration Prospects
VeriSign is the exclusive registrar of the .com, .net and .name domains per its agreements with The Internet Corporation for Assigned Names and Numbers (ICANN).
The company is benefiting from strong gTLD prospects. New gTLDs (“ngTLD”) represent 7.7% of total domain name registrations.
Reportedly, new .com and .net registrations were 9.5 million compared with 10 million in the year-ago quarter. VeriSign reported that .com continued to maintain its #1 position as the largest TLD, followed by .cn (China) and .tk (Tokelau).
We believe that increasing domain name registration coupled with price hikes for the .com and .net domain names will drive top-line growth.
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