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Wall Street in Q1 — GoDaddy disappoints

Wall Street in Q1 — GoDaddy disappoints

Numbers fall short of Wall Street’s expectations.

GoDaddy logoGoDaddy (NYSE: GDDY) noted earnings following the bell yesterday.

The firm’s revenue was up 12.1% year-over-year to $710.0 million. That’s the midpoint of GoDaddy’s expectations for the quarter but fell below consensus analyst estimates. Profit also fell below Wall Street’s expectations, causing shares to drop following hours yesterday and this morning.

Bookings hit $870.5 million, up 11.2% year-over-year.

Domains revenue was $319.6 million, up 9.6% year-over-year. It was $314.3 million in Q4 of 2018.

GoDaddy had 78.2 million domains under management as of the end of the quarter. Regarding two-thirds of the domains are .com. The firm credits aftermarket growth for some of the gains.

The firm expects Q2 revenue of $730 million – $740 million. Full year revenue guidance is unchanged at $2.97 billion – $3.0 billion.

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