GoDaddy's Q2 revenue tops expectations, profit falls short, outlook in-line

GoDaddy's revenue growth was strongest in domain registration versus hosting.
Written by Tiernan Ray, Senior Contributing Writer

Domain hosting pioneer GoDaddy this afternoon reported Q2 revenue that was higher than Wall Street expected, but a profit per share that fell short, and an outlook that was in-line with consensus. 

GoDaddy shares were unchanged in late trading. 

CEO Aman Bhutani remarked, "We're pleased with the strong quarter, and we're even more excited about the incredible journey we see ahead for GoDaddy."

Added Bhutani, "With strong secular tailwinds and great products on the way, we're excited to do more for Everyday Entrepreneurs than we've ever been able to do before."

GoDaddy's CFO, Mark McCaffrey, added that "GoDaddy is a special place with an incredible vision, and I'm thrilled to be a part of it.

"There's an immense long-term opportunity, and GoDaddy has the resources and people we need to pursue that opportunity in a way that serves our customers and creates value for shareholders."   

Revenue in the three months ended in June rose 16%, year over year, to $931.3 million, yielding a net profit of 27 cents a share.

Analysts had been modeling $920 million and 32 cents per share.

The company's bookings in the quarter rose by 13%, to $1.055 billion. Domain registration revenue rose by 18%, while hosting revenue was up 9%. 

For the current quarter, the company sees revenue of $945 million. That compares to consensus for $948 million.

For the full year, the company sees revenue of $3.75 billion. That compares to consensus of $3.75 billion.

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