GoDaddy (NYSE:GDDY) reported second quarter earnings up 22% year over year. The stock is up After Hours: 43.00 +0.55 (1.30%).
Domain revenue up 14.6% year over year.
Highlights:
- Total revenue of $557.8 million, up 22.3% year over year, or 23.5% on a constant currency basis.
- Total bookings of $667.5 million, up 23.9% year over year, or 25.8% on a constant currency basis.
- Net cash provided by operating activities of $113.3 million, up 22.6% year over year.
- Unlevered free cash flow of $135.0 million, up 60.9% year over year, and up 35.0% in the first half of 2017 vs. 2016.
- Customers were nearly 17 million at quarter end, up 17.8% year over year, including HEG customers of over 1.6 million.
- Average revenue per user (ARPU) of $129, up 2.8% year over year, and organic ARPU of $132, up 5.9% year over year.
- Domains revenue of $263.3 million, up 14.6% year over year.
- Hosting and Presence revenue of $214.9 million, up 28.3% year over year.
- Business Applications revenue of $79.6 million, up 35.1% year over year.
- International revenue of $187.7 million, up 56.7% year over year, or 61.2% on a constant currency basis.
Business Highlights
- GoDaddy completed a secondary offering of approximately 27.6 million shares of its Class A common stock sold by certain of its stockholders at $38.50 per share in May 2017, increasing the publicly available float.
- GoDaddy completed a $275 million share repurchase of 7.3 million LLC units of Desert Newco (together with a corresponding number of GoDaddy Class B shares) in May 2017, reducing the effects of share dilution.
- GoDaddy completed the acquisition of HEG in April 2017, establishing a market leading position in Europe for small business cloud services.
- GoDaddy signed a definitive agreement for the sale of the PlusServer business for an enterprise value of €397 million ($456 million USD).
- GoDaddy’s new mobile-optimized website builder, GoCentral, is showing positive traction in new bookings growth, free to paid conversion, and increase in average order size with hundreds of thousands of sites currently published. The company intends to release additional new GoCentral verticals, markets and features throughout 2017.
- GoDaddy launched GoDaddy Website Security, a cutting-edge website protection service to keep customers’ sites clean and free of malware on the following the April 2017 Sucuri acquisition.
- GoDaddy launched WP Premium Support to provide access to WordPress expertise and help small businesses fix, update and optimize their WordPress sites more quickly and conveniently.
