Verisign tonight significantly upgraded its estimate of how many .com and .net domains it expects to sell this year, citing an improving economy and increased growth in online commerce.
CEO Jim Bidzos told analysts that it’s now expecting its domain base to increase by 4% to 5.5% this year. Three months ago, it had cautiously predicted growth would be between 2.5% and 4.5%.
That’s a minimum of 6.6 million net new domains this year.
The upgrade was inspired by its first-quarter performance, in which .com and .net base grew by 4.6% when compared to Q1 2020, to 168 million names.
That was an increase of 2.8 million names during the quarter, which compares to 1.83 million net new domains in Q1 2020 and 1.46 million in Q4 2020. A pretty damn good showing, in other words.
For Q1, Verisign tonight reported net income of $150 million, down from $334 million in Q1 last year, when it experienced a one-off tax benefit.
Revenue was up 3.6% on last year at $324 million.