Verisign's Q1 revenue rises on demand for internet services

VeriSign,

25/04/2024 22:41

April 25 (Reuters) - Internet services firm VeriSign
 VRSN.O  reported a 5.5% rise in its first-quarter revenue on
Thursday, helped by steady demand for domain name registrations
as businesses beef up their online presence.
    More and more enterprises are nowadays choosing to build
their presence on the internet with easy-to-remember domain
names to capture a wider range of customers online.
    VeriSign is the sole registry for .com and .net domains and
it operates two of the 13 global internet root servers.
    The company competes with Israeli-based Wix.com  WIX.O  and
GoDaddy  GDDY.N , which provide easy-to-use tools to build
website and scale businesses.
    VeriSign posted revenue of $384 million for the quarter
ended March 31, compared with $364 million a year ago.
    It reported quarterly profit of $1.92 per share, higher than
the $1.70 per share a year ago.
    
    

 (Reporting by Priyanka.G in Bengaluru; Editing by Shilpi
Majumdar)
 ((Priyanka.G@thomsonreuters.com;))