August 9, 2017

GoDaddy gains a 22.3% revenue bump in Q2 2017

Expansion of its customer base, coupled with its acquisition of HEG, augments healthy Q2 performamce.

American domain name registrar GoDaddy today released its second fiscal quarter report for 2017, with expectations exceeded in terms of revenue earned. A 22.3% year over year increase in quarterly revenue caused Godaddy’s shares to climb in after-hours trading, which in turn translated into a tidy Q2 income for the company.

The domain registrar reported a net profit of USD 20.8 million in Q2 2017, which is in stark contrast to the USD 71.3 million loss suffered in the same quarter last year. The total revenue figure stands at USD 557.8 million, up 22.3% from Q2 2016. Of this, the second quarter report shows that GoDaddy gained USD 263.3 million in domain name revenue and USD 214.9 million in hosting and web presence revenue.

GoDaddy attributes its positive second quarter performance to the recent expansion of its customer base following its acquisition of the Host Europe Group (HEG) in December 2016. With the HEG acquisition adding a further 1.6 million customers to GoDaddy’s portfolio, the domain registrar says its customer count at the end of the quarter was nearly 17 million strong.

In light of the company’s healthy second quarter results, CEO of GoDaddy, Blake Irving, believes momentum will be maintained:

We are making great progress on our 2017 product and strategic initiatives including growing the adoption of our new mobile-optimized website builder GoCentral, new security offerings and integration of HEG. We remain focused on leveraging our brand and scale to extend our global competitive advantages.

GoDaddy had recently announced that it plans to mothball its cloud servers and applications business by the end of the current year in order to focus on its domain name and hosting services.

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