Revenue hits $356 million — GoDaddy domains

Domain name business keeps growing at GoDaddy.

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GoDaddy (NYSE: GDDY) noted first quarter earnings yesterday following the market closed.

First quarter revenue was $792 million, up 12% year-over-year. Bookings increased 9% year-over-year to $951 million.

The domains segment grew 11% year-over-year to $355.9 million. That’s up from $352.3 million in Q4 2019.

This business segment ought to see a boost going forward from the Uniregistry buyout. It gives the firm more registrations as well as a fresh domain portfolio to sell from, and aftermarket revenue from domain sales on the Uniregistry marketplace.

The firm is also adding Neustar to its stable, but the firm states the financial impact will be modest.

For Q2, GoDaddy expects 7% year-over-year revenue and bookings growth as it faces headwinds from Covid-19. The pandemic impacts the firm on both the revenue and efficiency side; call center reps working from home aren’t as efficient as in an office environment.

No analysts on yesterday’s call asked regarding the impact of Whois privacy changes.

Shares in GoDaddy are up 5% today as of 12:37 PM EDT.

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