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) and Naomi Osaka unveiled a new website for Play Academy, aimed at empowering girls through sports. Launched on April 18, 2022, the site is available in English and Japanese, centralizing efforts from local organizations in Haiti, Japan, and Los Angeles. This project is part of a broader initiative founded in 2020, which provides grants and training for community sports organizations. GoDaddy has committed $25,000 to support this cause, while Osaka highlighted the importance of expanding girls' participation in sports and building confidence through play.
GoDaddy announces the launch of the video series 'This is Where We Stand' highlighting the resilience of microbusinesses post-pandemic. With 30% of businesses surveyed starting since 2020, the series emphasizes the evolution of entrepreneurship. GoDaddy's Venture Forward initiative reveals a 22% increase in female-owned businesses and a 44% rise in Black ownership. The stories will showcase entrepreneurs who pivoted during challenging times, featuring diverse businesses from across the U.S. The series will debut throughout April 2022.
GoDaddy Inc. (GDDY) will announce its first-quarter financial results on May 4, 2022, after the market closes. A conference call will take place at 5:00 p.m. Eastern Time to discuss the earnings. Investors can register for the call through the provided links, with a live webcast available on GoDaddy's investor relations website. This announcement is key for investors looking for insights into GoDaddy's performance and future outlook.
GoDaddy (GDDY), a company dedicated to empowering entrepreneurs, announced that CEO Aman Bhutani and CFO Mark McCaffrey will present at the Morgan Stanley Technology, Media & Telecom Conference in San Francisco on March 7, 2022, at 10:20 a.m. PT. A live audio webcast of the presentation will be available on their investor relations website, with an audio replay to follow. GoDaddy provides digital tools to help entrepreneurs succeed online and in-person.
GoDaddy (GDDY) announced it has entered into accelerated share repurchase agreements totaling $750 million for Class A common stock, a significant component of its $3 billion multi-year share repurchase plan authorized by its Board of Directors. The final settlement is expected in Q2 2022. Since 2018, GoDaddy repurchased around 24 million shares for approximately $1.53 billion, demonstrating its commitment to enhancing shareholder value.
GoDaddy hosted a virtual investor day on February 11, 2022, highlighting its strategy to empower entrepreneurs by enhancing digital identity and commerce solutions. The company announced a $3 billion share repurchase plan, including a $750 million accelerated buyback in Q1 2022. GoDaddy introduced two new revenue pillars: Applications & Commerce, contributing 30% of 2021 revenue, and Core Platform, comprising 70%. The firm targets a 10% annual revenue growth and aims for $3 billion in unlevered free cash flow through 2024. CEO Aman Bhutani emphasized the importance of supporting customers in a changing business landscape.
GoDaddy reported strong Q4 and full-year 2021 financial results, achieving over $1 billion in quarterly revenue for the first time. Fourth-quarter revenue totaled $1,019.3 million, a 16.6% increase year-over-year, contributing to a full-year revenue of $3,815.7 million, up 15%. The company announced a $3 billion share repurchase plan and grew its annual recurring revenue (ARR) from its 'Create and Grow' products by 19%. For 2022, GoDaddy projects revenue between $4.14 billion and $4.16 billion, representing a 9% growth. Net income improved significantly, reaching $242.8 million for the year.
GoDaddy (NYSE: GDDY) announced its short film Big Water Summer: A Creation Story has been selected for the SXSW Film Festival. The film tells the story of Cherilyn Yazzie, a Navajo Nation entrepreneur, as she navigates crop challenges, drought, and pandemic hardships while operating her farm, Coffee Pot Farms. GoDaddy highlights the resilience of small business owners adapting to difficulties. The film will screen on March 13, 14, and 17, 2022, showcasing the entrepreneurial spirit amidst significant obstacles.
GoDaddy's Empower Baltimore program launches to support local microbusinesses by enhancing their web presence. In partnership with Impact Hub Baltimore, the initiative offers programming, mentorship, and free GoDaddy products, including domains and websites. The program will host five cohorts throughout the year, with a review process for applicants. Additionally, storytelling events will spotlight Baltimore's creative communities. The first launch event is scheduled for Feb. 17 at Baltimore Center Stage. GoDaddy aims to empower over 150,000 microbusinesses in the area, promoting local economic growth.
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