GoDaddy quarterly results top estimates as revenue per user rises

(Reuters) – GoDaddy Inc’s quarterly results topped Wall Street expectations on Thursday, as the web hosting company earned more revenue per user, sending it shares up 5% in extended trade.

The world’s largest domain registrar that manages about a fifth of all global web domains earned $158 per user in the quarter compared with analysts’ average estimate of $157.8 per user, according to Refinitiv data.

GoDaddy also forecast full-year revenue of $3.34 billion, slightly higher than Wall Street expectations of $3.31 billion.

Total revenue rose 12.2% to $780.4 million from $695.8 million, higher than analysts’ average estimate of $777.2 million, according to IBES data from Refinitiv.

Net income attributable to the company rose to $60.5 million, or 34 cents per share, in the fourth quarter ended Dec. 31, from $42.5 million, or 24 cents per share, a year earlier.. Analysts on average had expected earnings of 31 cents per share.

However, the company’s first result for an entire quarter under its new chief executive officer, Aman Bhutani, saw costs rise 8.1% to $706.9 million.

Reporting by Chinmay Rautmare in Bengaluru; Editing by Vinay Dwivedi

Source link

Share with your friends!

Products You May Like

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the latest news
straight to your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.