GoDaddy Inc. (NYSE: GDDY) reported financial results for the third quarter that ended September 30, 2024. Earnings beat by $0.09, revenue topped estimates. Stock was unchanged in after hours trading.
Third Quarter 2024 Business and Financial Highlights
- Total revenue of $1.15 billion, up 7% year-over-year on a reported and constant currency basis.
- Applications and Commerce (A&C) revenue grew 16%, year-over-year, to $423.1 million. Annualized recurring revenue (ARR) for A&C grew 15% year-over-year, to $1.6 billion.
- Core Platform (Core) revenue totaled $724.5 million, growing 3% year-over-year. Core ARR grew 4% year-over-year, to $2.4 billion.
- Total bookings of $1.2 billion, up 9% year-over-year on a reported and constant currency basis.
- Net income of $190.5 million, up 45% year-over-year, representing a 17% margin.
- Normalized EBITDA (NEBITDA) of $366.5 million, up 24% year-over-year, representing a 32% margin.
- Net cash provided by operating activities of $355.2 million, up 26% year-over-year.
- Free cash flow of $362.7 million, up 29% year-over-year.
- The company continued rolling out its innovative GoDaddy Airo™ AI-powered experience, now available in over 180 countries globally. Discovery and engagement continue to build positive momentum as we focus on optimizing monetization pathways.
