GoDaddy (NYSE: GDDY) reported Q2 2024 earnings. Revenue was up 7% year over year. Yahoo reported that second-quarter 2024 adjusted earnings of $1.10 per share, beating the Zacks Consensus Estimate by 2.8% and jumped 74.6% year over year. GDDY generated revenues of $1.12 billion, surpassing the Zacks Consensus Estimate by 0.97%
Second Quarter 2024 Business Highlights
- Total revenue of $1.1 billion, up 7% year-over-year on a reported and constant currency basis and exceeding the high end of the guided range for the second quarter.
- Applications and Commerce (A&C) revenue grew 15%, year-over-year, to $405.6 million. Annualized recurring revenue (ARR) for A&C grew 14% year-over-year, to $1.5 billion.
- Core Platform (Core) revenue totaled $718.9 million, growing 3% year-over-year. Core ARR grew 2% year-over-year, to $2.3 billion.
- Total bookings of $1.3 billion, up 11% year-over-year on a reported and constant currency basis.
- Net income of $146.3 million, up 76% year-over-year, representing a 13% margin.
- Normalized EBITDA (NEBITDA) of $331.7 million, up 25% year-over-year, representing a 29% margin and exceeding the second quarter NEBITDA margin guidance of 28%.
- Net cash provided by operating activities of $294.8 million, up 49% year-over-year.
- Free cash flow of $323.4 million, up 35% year-over-year.
- The Company continued rolling out its innovative GoDaddy Airo™ experience to its existing 20.9 million customer base. GoDaddy Airo is now available with all new and existing domain purchases in English-speaking markets, with further expansion planned into over 90 additional countries later this year.
- Launched the GoDaddy Digital Marketing suite, a new customer onboarding path providing personalized marketing tools and content on one dashboard that customers can use to build their brand, generate leads and grow their businesses, even if they do not have a website.
- The board of directors of GoDaddy Inc. unanimously elected Graham Smith as a new independent director effective June 26, 2024.
