GoDaddy reports earnings and dives 5% in after hours before rebounding

[equity78]

GoDaddy (NYSE:GDDY) reported earnings today, this coincided with the news that CEO Scott Wagner would be stepping down and being replaced by Aman Bhutani, who most recently served as president of Brand Expedia Group. The stock was up on the day but took a dive in after hours trading once the earning were reported. Excluding one-time items, the company posted earnings of 1 cent, below … [Read more...]

 

[Bob Hawkes]

It is probably hard to decouple the drop entirely from the huge general stock market drop in response to the accelerating trade war with the latest announcement of $300B in new tariffs China-US. Many big names in tech are down about 5%. Nevertheless, at least a good portion of the drop was probably due to the numbers missing exerts' estimates re earnings.

It is interesting that revenue was up a lot (more than 13% and more than analysts had predicted) but earnings not. That could mean several things, one obvious one being that there was a lot of spending on new services/products which may long term be a good thing.

They are sticking to an estimate of about $3 billion in revenue for the year. It is truly a huge operation!

Thanks as always for alerting us to this, @equity78. Totally impressed with the breadth of topics you cover so well and promptly. We are fortunate that you are also so active on NPs.

Bob

 

[ksusha64]

Great article, I wish I bought more Godaddy stock when it was cheap!!!