GoDaddy posted earnings after the close today, the second quarter results showed earnings missing Wall Street estimates, while revenues exceeded Wall Street expectations. Shares were up over 5% in after hours trading.
GoDaddy reported EPS of $(0.11) and revenues of $456.2 million. Analyst consensus had an EPS estimate of $(0.07) and revenues of $450.32.
At June 30, 2016, total cash, cash equivalents and short-term investments were $481.7 million, total debt was $1,078.0 million and net debt was $596.3 million.
Godaddy had third quarter revenues at $468-$471 million vs. estimates of $469.3 million and FY16 revenues $1.84-$1.847 billion vs. estimates of $1.84 billion.
“GoDaddy’s second quarter financial performance was strong, with revenue growing 16% or nearly 18% on a constant currency basis. With a clear strategy and consistent execution, we’ve delivered another great quarter and doubled the size of our business over the last four years,” said Blake Irving, GoDaddy’s Chief Executive Officer. “Additionally, we are pleased to welcome Ray Winborne as our new CFO and expand Scott Wagner’s leadership role.”
it must cut renewal prices to compete more
Why would they? The economy is on a slow-march to becoming red-hot.