Feb 6 (Reuters) - Internet services company VeriSign VRSN.O reported a 3.9% rise in fourth-quarter revenue on Thursday, fueled by steady demand for domain registrations as businesses amplify their online presence, sending its shares 1% higher in extended trading.
An increasing number of businesses are expanding their digital presence by acquiring and renewing domain names to reach a wider online audience, benefiting domain registry service providers such as VeriSign.
VeriSign primarily manages the domain-name registries for two of the internet's most valuable domains, .com and .net, and also operates two of the world's 13 global internet root servers.
The company reported revenue of $395.4 million for the fourth quarter ended December 31, about 4% higher than the $380.4 million reported a year ago.
The Reston, Virginia-based company posted a profit of $2 per share for the quarter, down from $2.60 per share it reported in the same period last year.
VeriSign processed 9.5 million new domain name registrations for .com and .net in the fourth quarter, compared to 9 million a year ago.
(Reporting by Priyanka.G and Akash Sriram in Bengaluru; Editing by Mohammed Safi Shamsi)
((Priyanka.G@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.