GoDaddy continues to outperform in first quarter
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GoDaddy continues to outperform in first quarter

GoDaddy, the world’s largest cloud platform dedicated to small independent ventures reported earnings this month, demonstrating a strong underlying business in the first quarter of 2018. The company is looking towards a partnership with Amazon Web Services to supercharge growth, and has a number of other things up its sleeve too.

GoDaddy is a massive outperformer so far this year, having seen its share price rise by 38%!

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Source: Yahoo Finance

The company saw strong results across the board. It said that total revenue came in at $633.2 million, an increase of a 29.3% year on year, while total bookings rose by 25.3% against the same period a year ago to $783.1 million.

The company’s CEO, Scot Wagner, said: "2018 is off to an exceptionally strong start, with first quarter revenue up 29% and unlevered free cash flow up 42%. We feel confident about our ability to both acquire new customers in markets around the world, and deepen relationships with existing customers, which we believe can fuel solid growth for GoDaddy well into the future."

GoDaddy also took this opportunity to announce the addition of a new board member, Betsy Rafael. According to the company’s press release, Ms. Rafael “will be joining the company as Chief Transformation Officer, helping ensure GoDaddy's processes and systems scale as the company grows around the world.” She has over 30 years experience at some of the world’s biggest tech companies, like Apple and Cisco.

The company also announced that it won a 2018 Gold Stevie Award for the Contact Center of the Year, as well as a number of other Stevie Awards.

Disclosure
Dominion holds GoDaddy in its Global Trends Managed Fund.


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