GoDaddy to do a share buyback of $500 million

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GoDaddy share buyback

GoDaddy (NYSE:GDDY) is up 16% today, the company announced strong earnings yesterday and a share buyback.

CNBC broke it down

Key Points

  • GoDaddy on Wednesday announced its biggest ever share buyback of $500 million.
  • The company reported a 12% rise in quarterly revenue as the web hosting company earned more per user, sending its shares up 10% in extended trading.
  • Average revenue per user rose 7.1% to $155 in the third quarter.
  • At the end of the quarter, GoDaddy had 19.1 million customers, up 4.6% from a year earlier.

Comments

  1. Mark Thorpe says

    Sooo that means GoDaddy will pass on some of those earnings to domain investors that pay to use their services? The same domain investors that GoDaddy made money off of? NOT!
    If you think that GoDaddy or any other publicly listed company cares about you, you’re wrong. You are just a number to them.
    It’s all about the shareholders and always will be!

    • Richard says

      They couldn’t care less about the common mom and pop shareholder.
      Buybacks are an enrichment scheme for the executives, nothing else.
      GoDaddy has over $2bln in debt… why are they buying back stock?