Company plans new revenue sources for its domains business.
Tucows (NASDAQ: TCX), which operates OpenSRS, Enom, Hover, and a couple of other domain registrars, reported slight growth in its domain name business last quarter.
The company grossed $61.1 million from its domain business in Q3, up from $60.3 million in the same quarter a year ago. The company also reversed a trend of quarter-over-quarter declines in gross margin.
Tucows said the business continues to be hurt by flagging revenue from expired domain sales.
In pre-recorded prepared remarks, DaveWoroch, CEO of Tucows Domains, said the company is working on a new product for its resellers to help hosts transition to cloud-based services. It is also developing a billing and provisioning system.
Tucows’ overall Q3 revenue was up 11% year over year.
Shares in Tucows are up 15% in trading this morning.
Post link: Tucows reports slight growth in domain name business
© DomainNameWire.com 2023. This is copyrighted content. Domain Name Wire full-text RSS feeds are made available for personal use only, and may not be published on any site without permission.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 editor (at) domainnamewire.com. Latest domain news at DNW.com: Domain Name Wire.
