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GoDaddy reports Q3 earnings; Website builder has 1 million paid users

GoDaddy reports Q3 earnings; Website builder has 1 million paid users 1
Website builder hits key milestone as revenue continues upward climb.

GoDaddy reported third quarter 2019 earnings this afternoon.

Total revenue was $760.5 million, up 11.9% year over year, or 13.3% on a constant currency basis. The revenue number hit the midpoint of GoDaddy’s forecast for the quarter.

Domains revenue was $345.3 million, up 11.6% year over year. Revenue from the domains segment was $334.4 million in the second quarter.

The company also announced that its Websites + Marketing platform now has over one million paid users. The company reinvigorated the product with a new brand in September.

For comparison, Wix had 4.3 million paid users at the end of Q2 this year.

I’ve used the updated Websites + Marketing platform and believe it is well positioned for growth. Of all of the major website builder platforms (Wix, Weebly, Squarespace), GoDaddy’s is by far the easiest to use and set up a website quickly.

GoDaddy narrowed its revenue forecast for the year to $2.98 billion to $2.99 billion from $2.97 billion to $3.00 billion.

 

 

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