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- ICANN publishes its Woke Manifesto. Here’s my hot take
- Alibaba, Name.com among new RDRS opt-ins
- The Swiss can register .swiss domains from next week
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- Internet could get one-letter gTLDs (but there’s a catch)
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- ICANN 79: anonymous trolls and undercover lawyers
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- Epik gets acquired again! The plot thickens…
- Airline gTLD crashes and burns
- First chunks of new gTLD Applicant Guidebook drop
- Epik to reveal its owners soon
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- ICANN picks its first ever Supreme Court
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- First bits of new gTLD Applicant Guidebook expected next week
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- ICANN predicts flattish 2025 for domain industry
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- Internet Naming Co acquires five more gTLDs
Verisign has great quarter but sees China growth slowing
Verisign beat its sales expectations in the first quarter of the year, but leadership said rapid growth from Chinese registrants will now “normalize”.
The .com/.net registry last night reported net income up 21% at $107 million, on revenue that was up 9.1% to $282 million.
That’s based primarily on it selling 2.65 million net new .com/.net names during the quarter, at 7.1% increase on the Q1 2014 level baseline. It said it sold 10 million new names in the quarter, up from 8.7 million a year ago.
For comparison, Q1 2015 saw 1.51 million net adds across the two TLDs. Three months ago, the company had predicted net adds to be 1.5 to 2 million names.
It had 142.5 million names at the end of the quarter, 126.6 million of which were .com.
CEO James Bidzos told analysts: “We again saw activity coming from registrars in China that exceeded our expectations.”
However, he added: “At this point, we expect activity from registrars in China to normalize as we continue through the second quarter.”
When pressed, CFO George KIlguss elaborated (according to the SeekingAlpha earnings call transcript):
as we look at the trends, we’ve seen the demand that happened in the second half of the first quarter kind of ebb and flow. So we saw it come. It was pretty strong for a few weeks and then it came back to more than normalized path. So we don’t have a perfect crystal ball, but based on the trends that we’ve seen that we’ve been tracking, it seems to be back on the normalized path for that particular region, at least as what we’ve seen historically.
Verisign is currently negotiating for the renewal of its .com contract with ICANN, which may or may not enable it to raise its government-frozen registry prices in future.
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