GoDaddy Shares Get Going With Sharp Rise
By Kim Khan
Investing.com – Website and domain provider GoDaddy (NYSE:GDDY) surged in afternoon trading following solid quarterly results.
The stock jumped 9% in afternoon trading.
GoDaddy reported a profit of 34 cents per share on revenue of $780.4 million after the bell Thursday.
That topped expectations for earnings per share of 31 cents and revenue of about $777 million, according to analysts’ forecasts compiled by Investing.com.
Earnings per user, a closely watched metric, also topped the Wall Street consensus.
The world's largest domain registrar, which manages about a fifth of all global web domains earned $158 per user in the quarter compared with analysts' average estimate of $157.8 per user, according to Refinitiv data.
Looking ahead, GoDaddy predicted revenue of $3.315 billion for 2020, which would be just above the S&P Capital IQ consensus of $3.31 billion.
Shares of the company were up about 4.6% in the last three months before today’s rise.
-- Reuters contributed to this report.