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GoDaddy Q1 Revenue up 13.8% – $775m Share Repurchase Authorized

Posted on the 05 May 2021 by Worldwide @thedomains
GoDaddy Q1 earnings

GoDaddy (NYSE: GDDY) reported first quarter earnings today. After hours 82.75 +0.51 (0.62%)

GoDaddy raised its full year revenue expectations by $45 million to $3.745 billion, representing approximately 13% year over year growth. Revenue growth by category is expected to approximate double-digit growth in Domains, high-single-digit growth in Hosting and Presence, and high-teens growth in Business Applications.

Q1 revenue rose 13.8% to $901.1m, net income was $10.8m, and unlevered free cash flow grew 14.4% to $268.3m

Bookings rose 14% to $1b, the first time for GoDaddy to reach that level.

GoDaddy raised its full-year revenue expectations to $3.745b, representing 13% growth for the year, and boosted its full-year unlevered free cash flow expectations.

GoDaddy named Mark McCaffrey, formerly PwC’s Technology, Media, and Telecom leader in the U.S., as its new CFO.

The board approved a $775m share repurchase authorization.

Looking at the balance sheet:

At March 31, 2021, total cash and cash equivalents were $1,293.1 million, total debt was $3,945.5 million and net debt was $2,652.4 million.

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