Tucows sold $3.2 million of domains to GoDaddy (and more from earnings call)

Tucows reveals portfolio sale price and data center plans.

Domain name, mobile and internet services company Tucows (NASDAQ: TCX) released earnings for Q4 and full-year 2018 yesterday.

In its pre-recorded commentary about the earnings, the company disclosed that it generated about $3.2 million from a bulk sale of domains from its portfolio in Q4. Elliot Silver reported on this transaction with GoDaddy in December. The two companies completed a similar transaction in Q4 2017 but for only $2 million. The 2017 transaction was for approximately 10% of Tucows’ domain portfolio excluding surname domain names.

It will be interesting to see if Tucows does another Q4 transaction this year.

Tucows CEO Elliot Noss made a couple of other interesting comments during the call.

First, the company bought land in Centennial, Colorado to build a data center.

Second, Noss said he’s more concerned about a recession in 2019 than in over a decade. He made the comment in relation to how the company handles share buybacks:

Today, we again announced an open market buyback program that will commence immediately. The program will allow us to repurchase up to $40 million worth of our shares over the course of the next 12 months. This year, more than any year since 2007, I find myself concerned about a possible recession. That potential will inform our thinking in terms of the program.

The earnings release is here.

© WebsiteHostingReview.org 2019. This is copyrighted content. Website Hosting Review full-text RSS feeds are made available for personal use only, and may not be published on any site without permission. If you see this message on a website, contact copyright (at) WebsiteHostingReview.org. Latest domain news at WHR.NEWS: Website Hosting Review.

The post Tucows sold $3.2 million of domains to GoDaddy (and more from earnings call) appeared first on Website Hosting Review.

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: