GoDaddy Reports First Quarter 2021 Earnings Results

GoDaddy Inc. the company that provides hosting solutions among other types of convenience-based tools for users reported the financial results for the first quarter that ended on March 31, 2021. GoDaddy has also announced that Mark McCaffey is joining the company as the new Chief Financial Officer, and Michele Lau will be joining as the new Chief Legal Officer.

05-06-2021 - GoDaddy Reports First Quarter 2021 Earnings Results

GoDaddy’s CEO, Aman Bhutani said the following:

We're thrilled to report such a great start to what we believe will be a fantastic year for GoDaddy and our customers. Our teams are moving faster than ever to deliver seamlessly intuitive products and experiences for Everyday Entrepreneurs, and we're committed to bringing the right products, people, and strategy ensuring we continually provide more and more value to our customers.

The company reported first-quarter revenue of $901.1 million, which is up 13.9% from a year ago with a net income of $10.8 million, or 6 cents a share. GoDaddy did not provide a non-GAAP figure for earnings per share.

Wall Street analysts were modeling GoDaddy’s first-quarter revenue to come at $885.2 million with non-GAAP earnings at 32 cents a share.

The total bookings came in at $1.09 billion, which is up 14.5% from a year ago.

GoDaddy’s CFO, Ray Winborne had this to say:

We reported our first $1 billion bookings quarter on strong demand as we invest to grow and scale the business. The strategy articulated a year ago is working, driving four quarters of accelerating growth and meaningful upside to our estimates. And our focus on prudent capital allocation is unwavering, as proven by four recently announced acquisitions and repurchasing 2% of our outstanding shares at attractive prices.

Furthermore, their free cash flow is at $268.3 million, which is up 14.4% year-over-year. Their domain revenue of $422.7 million is up 18.8% year over year.

Hosting and Presence revenue of $310.3 million is up 4.4% year-over-year.

Going forward, for the second quarter, which ends on June 30th of 2021, GoDaddy expects revenue of $920 million, or 14% year over year growth. Revenue growth by category is expected to approximate high-teens growth in domains, as well as business applications with high-single-digit growth in Hosting as well as Presence.

They also raised their full-year revenue expectations by $45 million to $3.745 billion, which represents approximately 13% year-over-year growth.

About GoDaddy

GoDaddy is a company with a mission to empower everyday entrepreneurs around the world, by providing them with all of the help as well as the tools they require in order to succeed online. It is a place where people can name their idea, build a professional website and attract customers. They are an American-based internet domain registrar and web hosting company with headquarters in Scottsdale, Arizona, and incorporated in Delaware.

Sara Mirchevska
Sara is a tech enthusiast and writer with over five years of experience. She is studying at UACS in North Macedonia. Sara is a creative person who is looking to become a high-tech writer over the years that come. She wants to be up to date with everything in the world that is related to technology and hosting, and she is the one that provides us with news in the web hosting world.

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"GoDaddy Reports First Quarter 2021 Earnings Results"

GoDaddy Reports First Quarter 2021 Earnings Results