Categories AlphaGraphs, Earnings, Technology

GoDaddy stock falls on weak Q2 results, CEO resignation

GoDaddy Inc. (NYSE: GDDY) slipped to a loss in the second quarter due to higher costs and expenses as well as a loss on debt extinguishment. The bottom line missed analysts’ expectations. Further, the company appointed Aman Bhutani as its new CEO, effective September 4, 2019, replacing Scott Wagner, who is stepping down for health reasons.

A nine-year veteran of Expedia Group, Bhutani most recently served as the President of Brand Expedia Group. GoDaddy believed that Bhutani would be an exceptional leader after leading Brand Expedia to a healthy double-digit revenue growth.

Net loss was $12.6 million or $0.07 per share compared to a profit of $18.1 million or $0.11 per share a year ago. Revenue grew by 13% to $737.2 million helped by a 12% jump in total bookings. Customers increased by 5.5% and the average revenue per user rose by 7.8%.

GoDaddy stock falls on weak Q2 results, CEO resignation

Looking ahead into the full year 2019, the company still expects total revenues in the range of $2.97 billion to $3 billion, representing growth of 12-13% versus 2018. For the third quarter, GoDaddy expects total revenue in the range of $755 million to $765 million.

For the full year 2019, GoDaddy still expects unlevered free cash flow in a range of $730 million to $745 million, representing growth of 18-20% versus 2018. GoDaddy now expects full-year cash interest payments of about $80 million to $85 million.

Also read: SurveyMonkey Q2 financials

GoCentral, GoDaddy’s website builder, and Managed WordPress continue to see robust subscription growth, driven by feature expansion and improvements in awareness. Adding to previous integrations with Facebook, Yelp and Google My Business, GoDaddy added Instagram allowing customers to view activity and engagement in GoCentral’s marketing dashboards.

Shares of GoDaddy ended Thursday’s regular session up 1.16% at $74.23 on the NYSE. Following the earnings release, the stock declined over 4% in the after-market session.

We’re on Apple News! Follow us to receive the latest stock market, earnings, and financial news at your fingertips

Most Popular

Adobe (ADBE) Q2 adjusted earnings rise on higher revenues

Adobe Inc. (NASDAQ: ADBE) on Thursday reported an increase in revenue and adjusted profit for the second quarter of 2025, amid continued growth in its subscription-based business. The design software

ORCL Earnings: Highlights of Oracle’s Q4 2025 financial report

Technology giant Oracle Corporation (NYSE: ORCL) has reported higher revenues and adjusted earnings for the fourth quarter of 2025. Total revenues increased to $15.9 billion in the May quarter from

Key highlights from Chewy’s (CHWY) Q1 2025 earnings results

Chewy, Inc. (NYSE: CHWY) reported its first quarter 2025 earnings results today. Net sales of $3.12 billion increased 8.3% year-over-year. Net income decreased 6.7% to $62.4 million compared to last

Comments

  1. Pingback: itme.xyz
  2. Pingback: ItMe.Xyz
  3. Pingback: itme.xyz
  4. Pingback: FB URL Shortener
  5. Pingback: mzplay
  6. Pingback: free video chat
  7. Pingback: floodle
  8. Pingback: cam sex
  9. Pingback: free webcam sex
  10. Pingback: 라이브스코어
  11. Pingback: blockchain
  12. Pingback: esports domain
  13. Pingback: grey frenchies
  14. Pingback: lilac frenchies
  15. Pingback: dump him shirt
  16. Pingback: 늑대닷컴
  17. Pingback: 늑대닷컴
  18. Pingback: wix seo
  19. Pingback: dog probiotic
  20. Pingback: french bull
  21. Pingback: nepo hat
  22. Pingback: sui
  23. Pingback: sui
  24. Pingback: crypto news
  25. Pingback: mexican candy bags
  26. Pingback: minnect expert
  27. Pingback: linh
  28. Pingback: Dog Papers
  29. Pingback: Dog Registry
  30. Pingback: Dog Papers
  31. Pingback: Dog Papers
  32. Pingback: clima tultitlán
  33. Pingback: mexican nerds
  34. Pingback: golf cart rental
  35. Pingback: rent a golf cart

Comments are closed.

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top