
Jabin Bastian 2023/05/05 2:16pm
What Happened: Shares of domain registrar and web services company, GoDaddy (NYSE:GDDY) fell 6.57% in the after-market session after the company posted first quarter sales that were inline with analysts' estimates, although the more commoditized 'Domains' segment beat while the more differentiated 'Business Applications' segment missed. Bookings, adjusted EBITDA, and free cash flow missed outright. Revenue and EPS guidance for the next quarter were inline with Consensus, and the full year revenue guidance slightly exceeded expectations. However, implied full-year revenue growth is 5%, which is fairly weak as many have thought of GDDY as a ~10% topline grower over the long term. Overall the Q1 results were mixed, and lacked a clear catalyst to lift investors' sentiments. ... Continue Reading