Total domains under management at the end of the quarter were 13.9 million, up 24% from the end of Q2 last year and up 15% from the end of the first quarter of this year. The jump from Q1 was primarily the result of the acquisition of a reseller by one of our customers who then shifted new registrations to its accreditation on our platform. Q2 was also another good quarter for our domain name expiry stream which saw revenue more than doubled from the second quarter of last year.
Our retail business which includes Hover and Ting continued a strong performance in Q2. I will note the Ting revenue is still dominated by zero margin or low margin device sales, and accordingly, we will talk about Hover and Ting separately when talking about retail.
Hover revenue grew 28% year over year and 7% sequentially, and we continued our trend of strong customer growth. New transactions which include new domains, transfers and email account grew 29% year over year and renewals grew 14% year over year. Renewal rates ticked up slightly from an already high level as a result of our great customer service and customer experience. Transfers-in remained strong in Q2 growing 34% year over year with transfers-in exceeding transfers-out by a ratio of 5 to 1 which is an incredible performance in this competitive space.
Ting is the other component of retail services. Q2 was the first full quarter of operations for Ting. As of the end of June, Ting has been in the market for over four months and things continued to go quite well. We were extremely pleased with the way of the services being received both by customers and by the broader technology, telecom and mobile communities. We’ve clearly been identified as a thought leader in the MVNO space.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV