Verisign posts higher quarterly revenue on strong demand for domain names

July 23 (Reuters) - Internet ‌services company ​VeriSign ​on Thursday reported a 6% increase in its second-quarter revenue, ‌driven by steady demand for domain names.

• ⁠Companies purchasing and renewing domain names to expand ‌their online reach have ‌benefited providers like Verisign.

• The company reported revenue of $435 million for the quarter ​ended June 30, compared with $410 million in the year-ago period.

• It posted ⁠a profit of $2.38 per share for the second quarter, up ​from $2.21 per share last year.

• The fixed fee charged from registrars like ​GoDaddy for each new ‌domain registration and annual renewals is the primary source of revenue ⁠for VeriSign.

• It processed 12.7 million new domain registrations for ".com" and ".net" in the quarter, ⁠compared to 10.4 million in the year-ago period.

• The ​Virginia-based company approved an additional $884 million share repurchase authorization, effective July 23, increasing the total program ‌capacity to $1.50 billion.

• As the exclusive registry operator for the ".com" and ".net" ‌domains, VeriSign anchors critical internet infrastructure ⁠and also operates two ‌of the ​world's 13 global internet root servers.

(Reporting by Arunesh Sinha; Editing by Shailesh ‌Kuber)

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