GoDaddy (GDDY) Q3 Earnings Beat, Revenues Match Estimates
Zacks Investment Research | Nov 08, 2019 05:32AM ET
GoDaddy Inc. ( (NYSE:GDDY) reported third-quarter 2019 adjusted earnings of 42 cents per share, surpassing the Zacks Consensus Estimate of 22 cents. Also, the bottom line was up from 8 cents in the year-ago quarter.
The company generated revenues of $760.5 million, up 11.9% year over year or 13.3% on a constant-currency basis. The reported figure was in line with the Zacks Consensus Estimate. The revenue growth was driven by strong performance of its product segments.
Following better-than-expected third-quarter results, its share price was up more than 9%.
Segmental Revenues
GoDaddy generates revenues from three segments — Domain, Hosting and Presence, & Business Applications.
Domain: The company generated revenues of $345.3 million (45.4% of total revenues) from this segment. The figure improved 11.6% from the year-ago quarter driven by strong liquid domain aftermarket and renewals.
Hosting and Presence: This segment generated revenues of $285 million (37.5% of revenues), increasing 8.3% on a year-over-year basis. The revenue growth can be primarily attributed to robust feature engagements, bookings and appointments within this segment. Further, well-performing GoCentral remained a major positive.
Business Applications: Revenues from this segment came in at $130.2 million (17.1% of revenues), increasing 21.9% year over year.
GoDaddy Inc. Price, Consensus and EPS Surprise
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