Rightside, the domain name operator that spun off from Demand Media last year, today reported double digit revenue growth and solid net income for its first quarter. Shares, which are up 28 percent so far this year, gained more than one percent in trading today. The Kirkland company reported total revenue of $50.5 million, up from $44.5 million for the same period last year. Net income was $1.8 million, compared to a net loss of $2.2 million for the same period last year.
“We had a strong start to the year with double digit revenue growth, over half of which was driven by new gTLD registrations. Additionally, we now have 35 gTLDs in ‘general availability’ and anticipate at least 4 more to launch in 2015,” said Chief Executive Officer Taryn Naidu.
gTLDs, or generic top level domains, are the special suffixes at the end of domain names. Those include suffixes such as .actor, .dentist and .pub.
Here’s a closer look at the company’s financial results.
