Verisign posts higher quarterly revenue on strong demand for domain names

• 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.

July 23 (Reuters) - Internet services company VeriSign VRSN.O 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.