Internet technology company VeriSign Inc. on Thursday reported its third-quarter profit climbed, boosted by a large gain from the sale of its security business to computer security company Symantec Inc.
For the July-September quarter, VeriSign earned $784.9 million, or $4.48 per share, compared with a profit of $53.6 million, or 28 cents per share, in the year-ago quarter.
Excluding one-time items, such as a $737 million gain from the August sale of its authentication services business, VeriSign earned 27 cents per share — a penny more than analysts polled by Thomson Reuters expected.
Revenue rose 10 percent to $172.6 million, nearly all of which came from the company's naming services segment, which assigns and manages Internet addresses that end in ".com" and ".net." Analysts expected $172.4 million in revenue.
VeriSign said that it added 7.5 million new domain name registrations during the quarter, which is up 7 percent from last year. The company said its registry services had 103.5 million active .com and .net domain names at the end of the quarter.