Covid tailwinds as revenue grows — Endurance experiences

Increase is businesses going online helps Endurance in second quarter.

Picture of stock chart with the words earnings note

Endurance International Group (NASDAQ: EIGI), a rollup of domain name, hosting and marketing services for modest businesses, noted earnings this morning.

Its numbers were fairly strong in the second quarter as the firm experienced a Covid boost like many of its peers that provide online services.

The firm noted a slight uptick in revenue compared to the same quarter last year. Revenue came in at $274.0 million, which is up 1% year-over-year when you exclude revenue from SinglePlatform, a business it sold at the end of last year. While 1% isn’t a big jump, it’s a positive sign for a firm that has mostly noted declining trends.

Bookings, adjusted EBITDA, and subscriber numbers were also up year-over-year.

Revenue for its Web Presence segment, which includes brands such as Domain.com and HostGator, was up slightly compared to both Q2 2019 and the first quarter of this year.

Endurance forecasts regarding $1.1 billion in revenue for the year, up slightly from last year when accounting for the SinglePlatform sale. Adjusted EBITDA guidance is regarding $300 million, down from $310 million last year excluding SinglePlatform.

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