GoDaddy’s Security Falls Short

Internet domain provider GoDaddy (NYSE: GDDY) delivered another strong quarter recently. But last week, the company was in the news primarily because of the several cybersecurity attacks it faced on its cryptocurrency services.

GoDaddy’s Financials

GoDaddy’s Q3 revenues grew 11% to $844.4 million, ahead of the market’s forecast of $835.3 million. Total bookings improved 11% over the year to $945 million. EPS of $0.38 per share was better than the market’s estimates of an EPS of $0.31.

By segment, revenues from the Domain segment grew 12.2% to $387.4 million. Hosting and Presence revenues improved 6.1% to $302.4 million. Business Applications revenues grew 18.7% to $154.6 million.

For the fourth quarter, GoDaddy forecast revenues of $865 million, compared with the market’s estimates of $855.63 million. It expects double-digit growth in its Domains segment, mid-single-digit growth in its Hosting and Presence segment, and high-teens growth in Business Applications.

GoDaddy’s Growing Partnerships

During the quarter, GoDaddy announced several partnerships, including deeper integration with Facebook. As part of the expanded partnership, GoDaddy has launched Facebook’s business extension, which will allow GoDaddy's website and marketing customers to create shops on Instagram and Facebook. Users will be able to place shippable posts allowing end-users to purchase directly from these posts. It will also allow for automatic synching between the two platforms, thus creating another channel for customers to sell their products.

It also recently announced a partnership with Vimeo, allowing customers to upload, preview, and insert videos. Users will also be able to use a video as a header on their website.

Besides partnerships, GoDaddy also released product upgrades. It recently released a powerful social composer dashboard for websites and marketing that provides customers with a one-stop-shop to quickly create polished social content as well as view and schedule social posts on connected social media platforms. The dashboard also allows users to track performance metrics on each of the posts.  

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Sramana Mitra is the founder of One Million by One Million (1M/1M), a global virtual incubator that aims to help one million entrepreneurs ...

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