Welcome to our dedicated page for GoDaddy news (Ticker: GDDY), a resource for investors and traders seeking the latest updates and insights on GoDaddy stock.
GoDaddy Inc. (NYSE: GDDY) is a global leader in domain registration and web services, helping millions of entrepreneurs start, grow, and scale their businesses online. Founded with the mission to make it easy and affordable for people to get their ideas online, GoDaddy has evolved into a comprehensive platform offering domain registration, website hosting, security, design, business productivity tools, commerce solutions, and domain registry services.
GoDaddy primarily serves micro- to small businesses, website design professionals, registrar peers, and domain investors. In 2021, the company expanded its offerings by acquiring payment processing platform Poynt, enabling it to offer omnicommerce solutions, including online payment gateways and offline point-of-sale devices.
Recent Achievements and Current Projects:
- In February 2024, GoDaddy's Venture Forward research initiative, in collaboration with Nasdaq and Wells Fargo, highlighted the growing impact of women-led microbusinesses. The panel discussed challenges like access to capital and provided insights to support women entrepreneurs.
- GoDaddy reported strong financial results for Q1 2024, with a focus on sustainable growth and innovation. The company repurchased 2.8 million shares year-to-date, demonstrating solid financial health.
- GoDaddy implemented infrastructure simplifications and restructuring efforts to reduce operating expenses and improve cash flows, impacting approximately 180 employees.
- In May 2024, GoDaddy closed a $1 billion tranche of term loans maturing in 2031 to refinance and extend the maturity date of previous loans, enhancing its financial flexibility.
Financial Condition and Outlook:
As of March 31, 2024, GoDaddy had $664 million in cash and cash equivalents, total debt of $3.9 billion, and net debt of $3.2 billion. The company expects Q2 2024 revenue to range between $1.10 billion and $1.12 billion, with full-year 2024 revenue projected at $4.50 billion to $4.56 billion. GoDaddy aims for a full-year normalized EBITDA margin of approximately 29% and expects unlevered free cash flow of at least $1.4 billion.
For more information, visit GoDaddy's website or their Investor Relations page.
GoDaddy (GDDY) has launched the Microbusiness Data Hub, providing access to over 20 million microbusiness data sets across the U.S. and Great Britain. This initiative aims to assist policymakers, researchers, and entrepreneurs by offering five unique datasets, including microbusiness density and activity indices. The hub will be updated quarterly, further enriching the data available. GoDaddy's Venture Forward initiative continues to support economic development by highlighting the often-overlooked contributions of microbusinesses to local economies.
GoDaddy launched a new multi-channel campaign celebrating the entrepreneurial journeys of its customers: Hinterland Skis, the fileist, and The Furlough Cheesecake. This initiative highlights their unique business stories and showcases the support and tools provided by GoDaddy, such as GoDaddy Payments, which offers competitive fees and expert assistance. Notable achievements of these businesses include opening brick-and-mortar stores, receiving patents, and achieving significant sales milestones. GoDaddy aims to inspire entrepreneurs by promoting their customers' 'firsts' and reinforcing its commitment to small business success.
GoDaddy (NYSE: GDDY) announced that CEO Aman Bhutani and CFO Mark McCaffrey will participate in the Wolfe Research 2nd Annual TMT Conference in San Francisco on September 7, 2022, and the Evercore ISI 2nd Annual Technology Conference in New York City on September 8, 2022, at 12:45 p.m. ET. A live audio webcast and replay of the presentation will be available on GoDaddy's investor relations website. GoDaddy aims to empower entrepreneurs by providing tools for success online and in-person. For more details, visit www.GoDaddy.com.
GoDaddy reported strong Q2 2022 results, with revenue up 9% year-over-year to $1,015.5 million and net income up 93% to $90.5 million. Normalized EBITDA rose 30% to $258.4 million. The company repurchased $1 billion of shares year-to-date, enhancing shareholder value. Notably, annualized recurring revenue for applications and commerce grew 12% to $1.2 billion. Looking ahead, GoDaddy projects Q3 2022 revenue between $1.030 billion and $1.045 billion, reflecting an 8% growth forecast.
GoDaddy Inc. (NYSE: GDDY) will announce its second-quarter financial results on August 3, 2022, after the US stock market closes. Following the release, a conference call will be held at 5:00 p.m. Eastern Time to discuss the results. Investors can register for the call and access a live webcast on GoDaddy's investor relations website. This announcement follows GoDaddy's mission to empower entrepreneurs by providing essential tools to thrive online.
GoDaddy (GDDY) announced a partnership with mySidewalk to launch a tool providing U.S. policymakers with economic impact data on over 20 million microbusinesses. The tool generates tailored reports quickly, enabling users to compare data across communities. This initiative, part of GoDaddy's Venture Forward research, aims to support local economic development efforts. The collaboration also allows mySidewalk subscribers to access GoDaddy's data alongside their extensive community data library, enhancing insights for better community planning.
GoDaddy (GDDY) has partnered with INKY, a leader in cloud-based email security, to enhance its Advanced Email Security (AES) solution for Microsoft 365 users. This strategic collaboration will replace GoDaddy's previous secure email gateway, integrating INKY's advanced anti-phishing capabilities. The partnership aims to protect customers from evolving email threats, benefiting various business sizes globally. INKY's solution is designed for user-friendliness and increased security, utilizing AI to combat sophisticated cyber threats effectively. This initiative underscores GoDaddy's commitment to providing robust protection for entrepreneurs.
On May 9, 2022, GoDaddy (NYSE: GDDY) announced its participation in the 50th Annual J.P. Morgan Global Technology, Media and Communications Conference in Boston. CEO Aman Bhutani and CFO Mark McCaffrey will present on May 23, 2022, at 11:20 a.m. ET. A live audio webcast will be available on GoDaddy's investor relations website, with a replay afterward. GoDaddy aims to empower everyday entrepreneurs with tools to succeed online and manage their businesses effectively.
GoDaddy reported a 11% increase in revenue for Q1 2022, totaling $1,002.7 million. The company announced a $250 million share repurchase plan, reinforcing its commitment to returning value to shareholders. Notable growth was seen in applications and commerce revenue, which rose by 15.7%, and gross merchandise volume increased over 20% year-over-year. GoDaddy targets Q2 revenues of $1.01 billion to $1.02 billion, projecting a year-over-year growth of 9%.
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