Domain name registry services and internet infrastructure provider, Verisign reported the financial results for the second quarter of 2020. The company reported revenue of $314 million, up 2.6% from the same quarter in 2019. The company also announced that it ended the second quarter of 2020 with cash, cash equivalents, and marketable securities of $1.19 billion, a decrease of $23 million from the end of 2019. Cash flow from operating activities was $215 million for the second quarter of 2020, compared to $165 million for the same quarter in 2019.
Freeze on registry prices
Verisign also announced that the company is extending the freeze on registry prices for all of its Top-Level Domains, including .com and .net, through March 31, 2021. According to the announcement, the company extends the waiver of the wholesale restoration fee for expired domains through the end of 2020. Jim Bidzos, Executive Chairman and Chief Executive Officer, said,
“For many people who are working from home and isolating at home, online services are critical. More businesses and individuals than ever depend on internet infrastructure for their livelihood. Commitment to our mission of maintaining our unparalleled record of uninterrupted .com and .net DNS is our priority.”