GoDaddy misses Q3 revenue expectations

However, the web hosting company saw its average revenue per user climb up in Q3
Written by Stephanie Condon, Senior Writer

GoDaddy reported mixed Q3 results on Wednesday. While revenue was slightly below expectations, shares were up in after-hours trading. 

Earnings per share of 42 cents on revenue of $760.5 million, up 11.9 percent year-over-year. 

Analysts were looking for earnings of 21 cents per share on revenue of $761.39 million. 

"GoDaddy sits in a privileged position relative to a massive opportunity, strengthened by our differentiation in guidance, seamlessly intuitive experiences, and the potential in activating our community," CEO Aman Bhutani said in a statement. "Our execution focus is on strengthening our platform, increasing our experimentation, and continually accelerating our product, which lays the foundation to increase value to customers and returns to shareholders for years to come."

GoDaddy reported 19.1 million customers for the quarter, up 4.6 percent year-over-year. Total bookings for Q3 came to $851.0 million, up 14.7 percent year-over-year. Average revenue per user (ARPU) in Q3 was $155, up 7.1 percent year-over-year. 

Domains revenue in Q3 came to $345.3 million, up 11.6 percent year-over-year. Hosting and Presence revenue totaled $285 million, up 8.3 percent year-over-year. Business Applications revenue was $130.2 million, up 21.9 percent year-over-year. 

For the full year 2019, GoDaddy expects revenue in the range of $2.98 billion to $2.99 billion, representing full-year growth of 12 percent versus 2018. 

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