VeriSign reported earnings today
VeriSign reported revenue of $257 million from continuing operations for the 2nd quarter of 2009.
Here are some interesting notes from the report:
VeriSign ended the quarter with approximately 93.5 million active domain names in the adjusted zone for .com and .net representing a 7% increase year-over-year.
VeriSign also reported, having on hand at the end of the second quarter cash, and cash equivalents, of $1.3 Billion.
Yes that is Billion with a “B”.
Now we will wait to see if VeriSign decides to raise the prices on .com and .net registrations, yet again this fall, as they are clearly not making enough money off running the central registry.
If you want to read the full earnings call transcript for VeriSign click here.
MHB – “we all will wait to see if VeriSign decides to raise the prices on .com and .net”
LOL! But ICANN would surely block such a move Michael, right? 😉
Max
I think VeriSign is “entitled” to raise rates again under the wonderful agreement ICANN signed with them years ago.
Of course by wonderful, I mean a one sided contract without regard to domain holders rights or interests.
I may be mistaken, but from what I understand, VeriSign (in the past) has normally given registrars a 6 month notice before raising their rates. Those that I have spoken with who are involved at the registrar level, have yet to confirm any new news about a rate increase coming in this year. Not sure if this is a stipulation as outlined in it’s agreement with ICANN, still trying to get confirmation on this, but considering the fragile state of the global economy and VeriSign’s recent earnings report, I doubt we’ll see them gouge the domaining community before the end of 2009. You never know though… either way increases are coming.