Web Host GoDaddy Beats Revenue Forecasts

Web Host GoDaddy Beats Revenue Forecasts
Web host GoDaddy Inc. (GoDaddy) has beaten revenue forecasts for the first quarter 2016. With headquarters in Scottsdale, Arizona, United States, GoDaddy was established in 1997. The company is a globally recognized brand and focuses on providing a complete solution for SMEs and larger organizations that require a viable web presence. GoDaddy provides all the tools a company needs to design and create a website, as well as providing the hosting required to enable a company website to operate. It is recognized as one of the biggest providers of hosting and domain names worldwide.

GoDaddy forecasts for the period were $448 million and for the second quarter $452 million. Estimates for the full year were between $1.83 billion and $1.845 billion. GoDaddy experienced a 15.3% increase in quarterly revenue, the result of gaining more customers and existing customers paying for more services. The number of customers the company catered to rose 7.6% to 14.1 million during the period. The average amount spent per customer rose around 7% to $123. It also managed around 62 million domains during the period – this represents approximately 20% of the total number of domains registered globally.

The company has been involved in significant overseas investment over recent years with the aim of increasing its footprint in Asia. The company’s international revenues increased 16.7% to $112.7 million during the period.

"GoDaddy's first quarter financial performance was strong, with revenue growing over 15%, adjusted EBITDA growing over 23% and unlevered free cash flow growing 18%," explained the Chief Executive Officer of GoDaddy, Blake Irving. "With a sizable addressable market of small businesses, a proven strategy and consistent execution, we are well positioned for continued growth at scale in 2016 and beyond."

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