February 13, 2020 / 9:22 PM / 15 days ago

GoDaddy quarterly results top estimates as revenue per user rises

(Reuters) - GoDaddy Inc’s quarterly results topped Wall Street expectations on Thursday, as the web hosting company earned more revenue per user, sending it shares up 5% in extended trade.

The world’s largest domain registrar that manages about a fifth of all global web domains earned $158 per user in the quarter compared with analysts’ average estimate of $157.8 per user, according to Refinitiv data.

GoDaddy also forecast full-year revenue of $3.32 billion, slightly higher than Wall Street expectations of $3.31 billion.

Total revenue rose 12.2% to $780.4 million from $695.8 million, higher than analysts’ average estimate of $777.2 million, according to IBES data from Refinitiv.

Net income attributable to the company rose to $60.5 million, or 34 cents per share, in the fourth quarter ended Dec. 31, from $42.5 million, or 24 cents per share, a year earlier.. Anlaysts on average had expected earnings of 31 cents per share.

However, the company’s first result for an entire quarter under its new chief executive officer, Aman Bhutani, saw costs rise 8.1% to $706.9 million.

(This story corrects paragraph 3 to say the company forecast full-year revenue of $3.32 billion, not $3.34 billion)

Reporting by Chinmay Rautmare in Bengaluru; Editing by Vinay Dwivedi

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