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GoDaddy Q2 a mixed bag as losses widen

Overall, the report shows that the company is expanding its customer base and earning more money per user, but the company's net losses continue to widen.
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Written by Natalie Gagliordi, Senior Writer on

Small business domain host GoDaddy reported a mixed bag of second quarter earnings and revenue Wednesday after the bell.

The Scottsdale, Ariz.-based company reported a net loss of $71.3 million, or 46 cents per share, up from its year-ago loss of $37.6 million. Revenue came in at $394.5 million, up 16.5 percent year-over-year (statement).

Wall Street was looking for a loss of 17 cents per share with $392.94 million in revenue.

Overall, the report shows that the company is expanding its customer base and earning more money per user. But the company's net losses continue to widen, which is undoubtedly damaging.

"Our investments in products, technology platform, and customer care are delivering innovative and increasingly personalized products and services for our customers around the world, and our second quarter results again show that focusing on their needs drives real shareholder returns," wrote GoDaddy CEO Blake Irving, in prepared remarks.

In terms of bookings, GoDaddy saw growth of 16 percent year-over-year to $475.9 million during the three-month period ending June 30.

Additional bright spots include GoDaddy's growth in hosting sales and international expansion. GoDaddy increased hosting revenue by more than 18 percent to $145.5 million.

GoDaddy brought in $100.2 million from international revenue, an increase of nearly 20 percent from the year prior. The company says nearly half of GoDaddy Pro users are in international markets.

For the current quarter, GoDaddy offered revenue guidance in the range of $405 million to $410 million.

For the year, GoDaddy projects revenue between the range of $1.5 billion to $1.6 billion.

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