GoDaddy posts solid Q2, now has more than 20M paying customers

The company announced it settled its entire Tax Receivable Agreements obligation for a one-time payment of $850 million, saving it an estimated $1 billion through 2028.

GoDaddy published better-than-expected second quarter financial results, as well as record customer growth for the quarter. The domain registry company added more than 400,000 net new customers during Q2 and has now surpassed 20 million paying customers. 

GoDaddy posted a GAAP net loss of $673.2 million. Total revenue in Q2 came to $806.4 million, up 9.4 percent year-over-year. 

Analysts were expecting revenue of $794.27 million. 

The company also announced that it settled its entire Tax Receivable Agreements (TRAs) obligation for a one-time payment of $850 million. At current tax rates, the settlement is expected to eliminate an estimated $1 billion in tax-related payments through 2028.

"Q2 was a very strong quarter for GoDaddy," CEO Aman Bhutani said in a statement. "In addition to delivering great financial results, we found innovative ways to improve our products and allocate resources to drive long-term value for customers and shareholders."

Total bookings for the company came to $936.3 million, up 10.7 percent year-over-year. 

Domains revenue for the quarter was $369.6 million, up 10.5 percent. Hosting and presence revenue came to $292.2 million, up 4.4 percent. Business applications revenue was $144.6 million, up 17.6 percent. International revenue amounted to $266.1 million, up 7.4 percent.

For the third quarter, GoDaddy expects total revenue of approximately $835 million.