VeriSign

(VRSN) - Get Report

handily beat Wall Street's expectations for earnings and revenue in the first quarter, the company said after the close on Wednesday.

Coming after a gut-wrenchingly poor session, the news gave investors something to cheer about. In recent after-hours trading the stock was up $1.41, or 5.5%, to $27.08 a share, after closing with a gain of 67 cents in the day.

The company posted a profit of $49 million, or 19 cents per diluted share, compared with a profit in the year-ago quarter of $9 million, or 4 cents per dilute share. Revenue in the March quarter was $401 million, a year-over-year increase of 75%.

Excluding items such as stock-based compensation, the company earned 25 cents a diluted share. Analysts polled by Thomson First Call were expecting a profit of 21-cents a share on the same basis, with revenue of $369.69 million.

VeriSign offers a range of digital trust services, operates the global registry for .com and .net domain names and sells digital content for mobile devices.