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Godaddy Inc (GDDY) Shares Rise on Revenue Beat

GDDY stock gained 3% after hours Thursday

Godaddy Inc (NYSE:GDDY) shares were surging after the bell after the company topped analysts’ revenue expectations in its latest quarterly earnings report.

Godaddy Inc (GDDY)The web hosting company announced revenue of $602.2 million on its fourth quarter of fiscal 2017, rising 23.9% and beating analysts’ expectations of $594.6 million. Earnings came in at $92.6 million, or 54 cents per share, topping the year-ago loss of $1.9 million, or 2 cents per share.

Part of GoDaddy’s success came as the company acquired Host Europe Group to expand its customer base, plus the company earned more cash from each user. The acquisition set it back $1.82 billion in April of last year.

The company’s total bookings reached $657.9 million, increasing 25.4% compared to the year-ago quarter, while net cash provided by operating activities was $104.3 million, up 17.1% year-over-year. GoDaddy’s unlevered free cash flow was $109.2 million, a 42.6% gain year-over-year.

By the end of the quarter, the company had 17.3 million customers, a 17.6% gain year-over-year. The company’s average revenue per user (ARPU) was $139, a 7.4% gain year-over-year, while domains revenue was $281.6 million, a 16.1% surge year-over-year.

GoDaddy’s Hosting and Presence revenue popped 29.5% compared to the year-ago quarter to $228.8 million, while its Business Applications revenue gained 37.6% year-over-year to $91.8 million. The company’s international revenue was $207.3 million for the quarter, gaining 52.9% compared to the year-ago quarter.

GoDaddy’s GoCentral has garnered more users as many are making the transition from free to paid, generating positive customer feedback and higher net promoter scores.

GDDY stock popped more than 3% after the bell.

Article printed from InvestorPlace Media,

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