GoDaddy stock (NYSE:GDDY) was sinking after hours as the company reported its latest quarterly earnings results late in the day on Tuesday, unveiling mixed results that included an earnings miss.
Here’s what you should know about GDDY earnings:
- The web hosting company reported its fiscal third quarter results of its 2018.
- GoDaddy said that its revenue for the period was up by 17% compared to the year-ago period thanks to an 11% improvement in bookings.
- Analysts were calling for the company to bring in revenue of $673.7 million, which it managed to top.
- However, the company was weighed down by higher costs, causing its net income to decline to $14.1 million, or 8 cents per share, from $30 million, or 20 cents per share during the year-ago quarter.
- The Wall Street consensus estimate was projecting GoDaddy to bring in earnings of 18 cents per share.
- The domain registrar added that its average revenue per user (ARPU) experienced a modest increase over the period, surging 8.6% to $145 million.
- For its fiscal 2018, GoDaddy now sees its revenue to land in the range of $2.655 billion to $2.660 billion, which would mark a 19% increase at the midpoint of the company’s guidance.
- GDDY stock fell about 5.2% after the bell following the company’s quarterly earnings miss on Tuesday.
The company’s shares had been declining about 0.7% in anticipation of its results today.