GoDaddy Powers Along As Revenue Grows Over 15% In 12 Months

GoDaddy, the domain name and web hosting behemoth, continues to grow rapidly with the company reporting impressive growth in total revenue, total bookings, domains revenue and hostings and presence revenue when it reported its second quarter results Wednesday. It also continues to innovate with new payments and integration solutions added during the quarter.

According to the second quarter results, total revenue of $931.3 million was up 15.5% year over year while total bookings of $1,054.8 million were up 12.7% year over year. Net cash provided by operating activities of $209.4 million was up 24.6% year over year and unlevered free cash flow of $237.0 million, up 27.5% year over year.

Revenue from domain names was $436.7 million, up 18.2% year over year and revenue from “hosting and presence” was $318.5 million, up 9.0% year over year. Business applications revenue was $176.1 million, up 21.8% year over year and international revenue of $317.2 million, up 19.2% year over year.

“We’re pleased with the strong quarter, and we’re even more excited about the incredible journey we see ahead for GoDaddy,” said GoDaddy CEO Aman 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 is a special place with an incredible vision, and I’m thrilled to be a part of it,” said GoDaddy CFO Mark McCaffrey. “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.”

According to ZDNet, GoDaddy shares were unchanged in late trading following the release of the results while analysts had been modelling total revenue of $920 million (the results were total revenue of $931.3 million) and 32 cents per share.

There were also numerous innovations and business solutions added during the quarter that were outlined when the company released their results. GoDaddy introduced GoDaddy Payments – a new payments solution that enables Websites + Marketing and Managed WordPress WooCommerce customers to handle all of their commerce transactions directly through GoDaddy.

Another was the integration with Google allowing GoDaddy’s customers to display their product inventory directly within Google Search, Shopping, Image Search, and YouTube for free.

There was the further enhancement of Facebook advertising capabilities, allowing their customers to create and manage Facebook and Instagram ad campaigns directly within their GoDaddy dashboard.

Another launch was GoDaddy Studios, a rebranding of the Over content creation platform, with enhanced functionality and expanded use cases. Customers can now create eye-catching website images and visuals with GoDaddy Studio’s advanced image creation and editing for their entire online presence.

GoDaddy introduced a Job Postings function within Websites + Marketing to help small businesses struggling to staff newly re-opened businesses. There was also the release of the GoDaddy Pro brand in India to help increase the opportunities for web designers and developers with our tools and services, which are custom-built to help web pros increase efficiency and grow their clientele.

In June, the company published its inaugural Environmental, Social and Governance, or ESG, report. Our ESG report outlines GoDaddy’s strategies, activities, metrics and performance progress towards building a more sustainable future for our operations, customers, employees and the planet.

During Q2, GoDaddy repurchased nearly 1 million shares for an aggregate purchase price of $81 million, with approximately $1 billion remaining under current authorisations.

The full announcement is available here.

Leave a Reply

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