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Verisign reports 2020 earnings

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Verisign reports another steady year at the helm of the .com registry.

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Top level domain registry Verisign (NASDAQ: VRSN) reported earnings yesterday.

Revenue was up 3.1% in Q4 2020 compared to the same quarter of 2019, clocking in at $320 million. Net income increased from $147 million in Q4 2019 to $157 in Q4 2020. But $12.4 million of that was a previously unrecognized income tax benefit.

The company’s operating margin was 63.9% in Q4, the same as it was the year before.

For the full year 2020, Verisign reported revenue of $1.27 billion, up 2.7 percent from $1.23 billion in 2019. Net income was $815 million, compared to net income of $612 million in 2019. $204.2 million of 2020’s net income was a previously unrecognized income tax benefit.

The operating margin for 2020 was 65.2% compared to 65.5% in 2019.

The net base of .com and .net domains increased 1.46 million during Q4 after considering 10.5 million new registrations minus deletions.

Verisign also announced it is increasing the wholesale cost of .com domains by 54 cents on September 1. This increase will fall directly to the bottom line.

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