GODADDY REPORTS FIRST QUARTER 2022 EARNINGS RESULTS

GoDaddy reported earnings on Wednesday. According to Yahoo Finance, GoDaddy (GDDY) came out with quarterly earnings of $0.41 per share, missing the Zacks Consensus Estimate of $0.42 per share. This compares to earnings of $0.06 per share a year ago. These figures are adjusted for non-recurring items.

Business Highlights

• In February, GoDaddy launched a $750 million accelerated share repurchase program and repurchased an initial 6.5 million shares during the first quarter. Remaining shares under this program are expected to be delivered in May.
• GoDaddy today announced an intention to fulfill its $1 billion share repurchase target for 2022 through an additional $250 million of repurchases to be made during the second and third quarters.
• During the first quarter, GoDaddy launched Commerce Plus directed at larger customers with more complex needs. Commerce Plus enables sales tax automation, higher order limits for marketplaces, faster inventory syncs with unlimited product and email marketing messages for customer stores.
• GoDaddy Payments continues to show strength with adoption of 70% within the commerce tier of Websites + Marketing and 25% within Managed WordPress.
• Annualized recurring revenue (ARR) for Applications and Commerce grew 14% year over year to $1.2 billion.
• ARR for Core Platform grew 5% year over year to $2.2 billion.
• GoDaddy continued to drive strong growth in commerce offerings with gross merchandise volume (GMV) of $24 billion in the first quarter, up over 20% year over year.

Read the full report at GoDaddy

The stock was down in after hours trading.  80.00 −2.12 (2.58%)