GoDaddy reports Q3 earnings – Domain Name Wire

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Andrew Allemann Leave a Comment November 2, 2023
Revenue up slightly from a year ago, but segment that includes domains drops slightly.
GoDaddy (NYSE: GDDY) reported earnings after the market closed today.
The company grossed $1.07 billion in the quarter, up 3.5% compared to the same quarter a year ago.
Applications & Commerce revenue grew 11.4% to $0.36 billion, and Core Platform revenue dropped 0.1% to $.71 billion.
Looking forward to Q4, the company expects revenue of $1.095 billion to $1.115 billion, which would be 6% year-over-year growth at the midpoint. It also expects the Core Platform segment, which includes domain names, to tick up 2%-3%.
Some growth in Core Platform would be welcome. A slowdown in the domain aftermarket has hurt the business.
In prepared remarks, the company noted that it is also working to reduce costs. This comes after pressure from one of its investors, Starboard.
Categories: Domain Registrars Tags: gddy, GoDaddy
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