GoDaddy disappoints Wall Street in Q1

Numbers fall short of Wall Street’s expectations.

GoDaddy (NYSE: GDDY) reported earnings after the bell yesterday.

The company’s revenue was up 12.1% year-over-year to $710.0 million. That’s the midpoint of GoDaddy’s expectations for the quarter but fell below consensus analyst estimates. Profit also fell below Wall Street’s expectations, causing shares to drop after hours yesterday and this morning.

Bookings hit $870.5 million, up 11.2% year-over-year.

Domains revenue was $319.6 million, up 9.6% year-over-year. It was $314.3 million in Q4 of 2018.

GoDaddy had 78.2 million domains under management as of the end of the quarter. About two-thirds of the domains are .com. The company credits aftermarket growth for some of the gains.

The company expects Q2 revenue of $730 million – $740 million. Full year revenue guidance is unchanged at $2.97 billion – $3.0 billion.

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