Domain-Based Growth Continues Unabated in July with +5.4% YoY Growth; Berkshire Hathaway Lock Up Ends

研报英文原文证据摘录

Domain-Based Growth Continues Unabated in July with +5.4% YoY Growth; Berkshire Hathaway Lock Up Ends

J P M O R G A N North America Equity Research

03 August 2026

Verisign Neutral

VRSN, VRSN US

Domain-Based Growth Continues Unabated in July with Price (31 Jul 26):$290.02

+5.4% YoY Growth; Berkshire Hathaway Lock Up Ends

Vertical SaaS & HealthTech

Verisign’s .com domain name base growth remained strong in July 2026. Alexei Gogolev AC

According to Verisign data, the .com domain name base recorded ~167.6M total (1-212) 622-9391

domains as of July 31. Verisign saw positive registrations (on a net basis) for the alexei.gogolev@jpmorgan.com

.com gTLD (its main Domain Name Base or DNB), which increased by ~1.1M Ella Smith

MoM in July 2026, compared to ~1.0M MoM increase recorded in June 2026. The (1-212) 622-2451

reported growth in the .com domain base implies an acceleration to 5.8% yoy in ella.smith@jpmchase.com

the most recent month (compared with a 5.5% yoy increase in June 2026). Net Destiny Jackson

change in VRSN’s total domain base stood at 5.4% yoy growth at the end of July (1-212) 622-4360

destiny.jackson@jpmorgan.com

2026 (a slight sequential acceleration vs. June 2026).

Isabella A Camaj

• Reported .com trends are positive for VRSN and have some favorable (1-212)bella.camaj@jpmorgan.com834-2379

read-across for GDDY/WIX. VeriSign’s total DNB is up 3.8% YTD ChangeinVRS’sTotalDomainNameBase(Figure J.P. Morgan Securities LLC

2ChangeinVRSN’sTotalDomainNameBase). This compares to the recently raised 2026E full-year company guidance

range of +5.2% to +6.0%, compared to +3.1% to +4.3% earlier, which is likely

to be seen as a positive, setting the scene for a better-than-expected 2026

performance. We also see a positive read-across for VRSN’s large registrar