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.
On August 17, 2021, GoDaddy (NYSE: GDDY) announced new features, Pay Links and Virtual Terminal, within GoDaddy Payments to assist small businesses in accepting online and remote payments. Many small businesses lack a web presence, making them vulnerable as consumers prefer online payments. These features allow user-friendly setups for businesses to share secure payment links or use any device as a payment terminal. GoDaddy Payments accepts major credit and debit cards with no hidden fees. This launch aims to enhance the capabilities of small businesses, enabling them to thrive in both online and offline markets.
GoDaddy has initiated a $250 million accelerated share repurchase agreement with Goldman Sachs as part of its broader $750 million repurchase program. This buyback underscores GoDaddy's commitment to shareholder value, with approximately 6.9 million shares repurchased in 2021, representing 4% of total shares outstanding. Since January 2020, the total buyback will stand at about 16.9 million shares, or over 9% of total shares. The final settlement of this agreement is anticipated in Q3 2021.
GoDaddy reported strong Q2 2021 results, with total revenue hitting $931.3 million, up 15.5% year-over-year. Net income improved significantly to $46.9 million, compared to a loss of $673.2 million in 2020. Operating cash flow increased 24.6% to $209.4 million, while unlevered free cash flow rose 27.5% to $237.0 million. GoDaddy also launched several new products, including GoDaddy Payments, and expects Q3 revenue of about $945 million, reflecting 12% growth.
GoDaddy (NYSE: GDDY) announced a collaboration with UCLA Anderson Forecast, utilizing GoDaddy's Venture Forward data to analyze the impact of online microbusinesses on local economies. The study highlights how these businesses have adjusted during the pandemic and provides insights into their distribution and growth factors in the U.S. The pioneering index uniquely tracks microbusiness activity at various levels and aims to inform policymakers on enhancing economic resilience.
GoDaddy (NYSE: GDDY) has announced a new integration with Google that allows its customers to enhance their online visibility. This feature enables GoDaddy customers to create Google Merchant Center accounts directly from their Online Store, sync their product catalogs, and launch Smart Shopping campaigns across various Google platforms, including Search, Images, Maps, YouTube, and Gmail. By taking advantage of these resources, small businesses can optimize their marketing efforts and enhance sales growth. Additionally, eligible customers can receive up to $150 in ads credit for their initial Smart Shopping campaigns.
GoDaddy (NYSE: GDDY) has launched List for Sale, a new service allowing customers to easily list and sell unused domain names. This free tool offers users a straightforward three-step process to price their domain, create a landing page, and publish their listing on Afternic. Notably, the average sale price of a domain on Afternic is $2,000, with the highest sale recorded at $57,500. Customers only incur a commission fee of 10-20% upon sale. This initiative aims to help users profit from dormant domains, enhancing GoDaddy's value proposition.
GoDaddy Inc. (NYSE: GDDY) will disclose its financial results for Q2 on August 4, 2021, after market close. The company's management will hold a conference call at 5:00 p.m. Eastern Time to discuss the earnings. Interested parties can register for the call and access the webcast via GoDaddy's investor relations website. GoDaddy continues to provide tools and services to support entrepreneurs in building their online presence and enhancing their business success.
GoDaddy Inc. (NYSE: GDDY) announced its collaboration with Mastercard (NYSE: MA) to enhance the Venture Forward initiative, aimed at assessing the economic impact of online microbusinesses. This partnership grants City Possible members access to valuable data, providing insights into local economies affected by microbusinesses. GoDaddy has gathered data from over 20 million microbusinesses, analyzing effects across 30,000+ zip codes and 900+ city regions. This information supports local governments in fostering inclusive economic growth.
GoDaddy Inc. (NYSE: GDDY) has launched GoDaddy Payments, a new payments solution designed for customers of GoDaddy Websites + Marketing and Managed WordPress WooCommerce. This solution allows users to handle all commerce transactions directly through GoDaddy.
Built using technology acquired from Poynt, the service offers quick setup and next-day fund deposits, streamlining payment processes. It integrates with various tools, enabling users to manage orders and payments from a single dashboard. GoDaddy Payments supports major credit cards with no hidden fees and is part of an expanding commerce platform.
GoDaddy (GDDY) announced that CEO Aman Bhutani and CFO Ray Winborne will present at the 49th Annual J.P. Morgan Technology, Media, and Telecom Conference on May 26, 2021, at 1:25 p.m. EDT. A live audio webcast will be available on GoDaddy's investor relations website, which will also host a replay after the presentation.
GoDaddy aims to empower entrepreneurs with tools to succeed online, providing resources to build websites, attract customers, and manage their businesses effectively.
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