GoDaddy Inc. (GDDY - Snapshot Report) operates in the internet services space. The company is the world’s largest domain registrar, and has over 59 million domain names under management.
During the market day, GoDaddy stock surged 3%, suggesting that investors were optimistic going into the earnings report.
Our consensus estimate hasn’t changed in the last 60 days, and it still stands at an EPS estimate loss of $-0.17.
GoDaddy was a Zacks Rank #2 (Buy) last week. It has downgraded though, and now holds a Zacks Rank #3 (Hold).
Earnings: Analysts expected an earnings loss of $-0.17 per share. GoDaddy actually reported a $-0.46 loss per share.
Revenue: GoDaddy posted revenues of $394.5 million, topping our revenues consensus of $393 million.
Key Stats: Revenues are 16.5% higher than they were this quarter last year. The hosting and presence segment generated revenues of $145.5 million, which is 18.5% more than Q2 of last year. The company reported a loss on debt extinguishment of $21.4 million. It’s worth noting that operating losses were $33.6 million, which is almost twice the loss that was incurred in the same quarter last year.
Stock Price: GoDaddy is down 5% in after hours after the disappointing earnings report.
Key Takeaways From GoDaddy's (GDDY) Q2 Earnings Report
GoDaddy is down 5% in after hours after a disappointing earnings report. Revenues were higher, but operating losses were double the year-over-year quarter.
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