GoDaddy earnings beat street forecasts, up in after hours trading

GoDaddy (GDDY) reported earnings after the close, the stock is up 3.5% in after hours to a new high of $40.75.

The AP reported:

GoDaddy Inc. (GDDY) on Tuesday reported first-quarter net income of $600,000, after reporting a loss in the same period a year earlier.

On a per-share basis, the Scottsdale, Arizona-based company said it had net income of 1 cent.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.

The cloud-based technology products developer posted revenue of $489.7 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $487.8 million.

For the current quarter ending in July, GoDaddy said it expects revenue in the range of $548 million to $553 million.

The company expects full-year revenue in the range of $2.19 billion to $2.23 billion.