After announcing yet another acquisition on Thursday, continuing the expansion spree, GoDaddy Inc. (NYSE: GDDY) reported stronger-than-expected earnings for the fourth quarter. Revenues advanced in double digits and topped the Street view, spurring a stock rally during the extended trading session.
All three business segments performed better than in the year-ago quarter, pushing up total revenues by 12.2% to $780.4 million. Net income was $60.5 million or $0.34 per share, compared to $42.5 million or $0.24 per share in the fourth quarter of 2018. The results came in above the consensus estimates.
Total bookings moved up 14% from last year to $833.6 million, while average revenue per user advanced 7% to $158.
Outlook
The company expects its full-year 2020 revenues to be $3.315 billion, representing an 11% growth. It is looking for unlevered cash flow of $835 million for the year, up 14% from last year.
“GoDaddy continues to execute against its strategy – empowering everyday entrepreneurs through sage guidance, seamlessly intuitive experiences, and activating our community. We are well-positioned to deliver strong results for our customers, communities, and shareholders in 2020,” said CEO Aman Bhutani.
Uniregistry Buyout
Earlier in the day, GoDaddy said it agreed to acquire the domain registrar and marketplace businesses of Uniregistry. The transaction is tentatively scheduled to close in the second quarter.
Is GoDaddy a Buy?
The average target price on the stock indicates that GoDaddy’s near-term market value could go up by a quarter, from the current levels. Justifying the projection, analysts overwhelmingly recommend buying the stock.
Also see: GoDaddy Q3 2019 Earnings Conference Call Transcript
The shares have dropped about 3% so far in 2020 after a tough year marked by steady declines. The stock closed Thursday’s regular session slightly lower, before gaining in the after-hours immediately after the earnings announcement.
Most Popular
CL Earnings: Key quarterly highlights from Colgate-Palmolive’s Q2 2024 financial results
Colgate-Palmolive Company (NYSE: CL) reported its second quarter 2024 earnings results today. Net sales increased 4.9% year-over-year to $5 billion. Organic sales increased 9%. Net income attributable to Colgate-Palmolive Company was $731
Key takeaways from Visa’s Q3 2024 earnings report
Credit card behemoth Visa, Inc. (NYSE: V) this week reported mixed results for the June quarter, with earnings matching expectations and sales slightly missing the view. Both numbers grew in
Southwest Airlines (LUV): A look at the airline’s performance in Q2 2024
Shares of Southwest Airlines Co. (NYSE: LUV) were up over 6% on Thursday after the company beat earnings estimates for the second quarter of 2024. The stock has gained 4%
Comments
Comments are closed.