July 25 (Reuters) - Internet services firm VeriSign ( VRSN )
reported a 4.1% rise in second-quarter revenue on
Thursday, beating analyst expectations as more businesses seek
to expand their online presence.
Verisign's ( VRSN ) primary business involves managing the
domain-name registries for two of the internet's most
significant domains, .com and .net.
This includes reserving names that identify websites and
it also operates two of the 13 global internet root servers.
Businesses are increasingly seeking easy-to-remember domain
names to boost their online presence, as users turn to the
internet as their primary point of contact for businesses and
services.
The company reported revenue of $387 million for the second
quarter ended June 30, up from $372 million a year ago. Analysts
on average expected revenue of $385.8 million, according to LSEG
data.
The Reston, Virginia-based company posted a profit of $2.01
per share for the quarter, higher than the $1.79 per share it
reported in the same period last year.
The company processed 9.2 million new domain name
registrations during the second quarter, compared to 10.2
million a year-ago.
The renewal rate for its .com and .net domains fell to 74.1%
in the first quarter, compared with 75.5%, a year earlier.
Renewal rates are not fully measurable until 45 days after the
end of the quarter.