VeriSign posts loss after $4.6bn charge

Swimming in the Red Sea

ComputerWire: IT Industry Intelligence

VeriSign Inc yesterday reported a loss for the second quarter to June 30 of $4.8bn, compared to a loss of $11.2bn a year ago, on revenue that was up 37% at $317.4m. The company said the loss was mostly due to a $4.6bn acquisition write-down charge.

The company's enterprise and service provider division, which includes its recently acquired telecom concerns along with registry lookup and security services, delivered 67% of total revenue, the remainder coming from its mass markets division, which includes retail domain name and security services.

The VeriSign domain name registry had 27.3 million names in it at the end of the quarter, the company reported, up 2.7 million during the period. The registrar unit grossed 550,000 of these new domains, and renewed or transferred an additional 660,000, ending the period with 10.3 million domains, 9.6 million in .com/.net/.org, under management.

The digital certificate business issued 105,000 new and renewed certs, closing the quarter at a total of about 400,000, 275,000 of which came from its mass markets division. The payments gateway business added 5,000 customers to close the quarter with 75,000 paying users, processing about $3.4bn in the quarter.

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