VeriSign beats Q4 earnings expectations

The company ended the fourth quarter with 165.2 million .com and .net domain name registrations in the domain name base.

VeriSign, providers of a global database of principal domain names on the Internet, reported fourth quarter and full-year financial results after the bell on Thursday.

The Reston, Virginia-based company delivered Q4 non-GAAP net income was $157 million, or $1.38 per share, on revenue of $320.28 million. Wall Street was looking for earnings of $1.29 on revenue of $320.35 million. 

For the full FY 2020, non-GAAP net income was $612 million, or $5.15 per share, on revenue of $1.2 billion. 

The company ended the fourth quarter with 165.2 million .com and .net domain name registrations in the domain name base, a 4% increase from a year prior. The company said it handled registrations for 10.5 million new domain names for .com and .net, up from the year-earlier period total of 10.3 million new domains. 

"Reliance on internet services increased significantly due to the global events of 2020," said VeriSign CEO Jim Bidzos. "Our resilient network design and preparedness over decades for challenging scenarios, and our agility and preparation for working remotely, enabled us to reliably and securely meet increased global dependence on the internet."

Shares of VeriSign were up just over 3% after hours.