VeriSign (VRSN - Free Report) reported non-GAAP earnings of $1.23 per share for third-quarter 2018, which increased 23% from the year-ago quarter. The Zacks Consensus Estimate was pegged at $1.19 per share.
Revenues increased 4.6% year over year to $306 million and came slightly ahead of the Zacks Consensus Estimate of $305 million.
In the quarter, domain name registrations for .com and .net together grew 4% year over year to 151.7 million, of which 137.6 million registrations were for .com and 14.1 million for .net. Domain name base increased 1.99 million in the quarter.
VeriSign processed 9.5 million new domain name registrations for .com and .net, an increase from 8.9 million processed in the year-ago quarter as a result of increased gross additions from North American and China registrars.
For the reported quarter, the exact renewal rate figures will be available after 45 days from Sep 30, 2018. The company expects third-quarter 2018 renewal rate to be 75%, same as the second quarter.
VeriSign, Inc. Price, Consensus and EPS Surprise