GoDaddy beats the Street on earnings and revenue
GoDaddy, the world’s largest could platform dedicated to small businesses, reported second-quarter earnings last week, offering investors a mixed bag of results. On the one hand, the company beat expectations on earnings and revenue – but on the other its web hosting sales for the quarter came in weaker than expected. Overall, GoDaddy’s results were solid, but the weaker-than-expected sales saw its share price decrease after-hours. However, it’s still up by more than 50% year to date – more-than double the industry’s growth in the same period (22%).
GoDaddy’s share price is having a fantastic year so far
SOURCE: Yahoo Finance
GoDaddy posted second-quarter earnings of 11¢ per share – that’s a decrease of 15.4% year on year, but a sequential increase from the last quarter. And, it beat the Street’s estimate by 3¢. Looking to revenue, the company bought in $651.6 million for the quarter, a 16.8% increase against the previous year, and a 2.9% acceleration against the preceding quarter.
The company’s CEO Scott Wagner summed up the quarter as follows: "GoDaddy successfully delivered another solid quarter with continued customer, revenue, and cash flow growth. We are making great progress on our 2018 strategic initiatives including growing the adoption of GoCentral and beginning the integration of Main Street Hub. We continue to see tremendous opportunity for long-term growth, as we expand both our product offerings and the customers we serve."
Dominion holds GoDaddy in its Global Trends Managed Fund.
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