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Jun 30, 2022
GoDaddy Q2 2022 Earnings Report
GoDaddy's Q2 2022 financial results reflected a focus on strategic initiatives and financial targets, with revenue up 9% year-over-year and net income up 93% year-over-year.
Key Takeaways
GoDaddy reported strong second-quarter results with revenue up 9% year-over-year and net income up 93% year-over-year. The company bought back $1 billion of shares year-to-date, demonstrating its commitment to returning value to shareholders.
GoDaddy's total revenue increased by 9% year-over-year to $1,015.5 million.
Net income increased by 93% year-over-year to $90.5 million.
Normalized EBITDA increased by 30.3% year-over-year to $258.4 million.
The company repurchased 12.8 million shares for $1 billion year-to-date, reducing fully diluted shares outstanding by approximately 8%.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the third quarter ending September 30, 2022, GoDaddy is targeting total revenue in the range of $1.030 billion to $1.045 billion, representing year-over-year growth of 8% at the midpoint.
Positive Outlook
- Targeting total revenue in the range of $1.030 billion to $1.045 billion for Q3 2022.
- Expecting applications and commerce revenue growth in the range of 13% to 15% for Q3 2022.
- Expecting core platform revenue growth in the range of 4% to 6% for Q3 2022.
- Targeting normalized EBITDA in the range of $250 million to $260 million for Q3 2022.
- Expecting unlevered free cash flow of approximately $1.1 billion for full year 2022.
Challenges Ahead
- Revising targeted range for total revenue in the year ending December 31, 2022 due to adverse foreign exchange (FX) rate impacts.
- Now expects total 2022 revenue to be in the range of $4.10 billion to $4.13 billion.
- Estimated adverse FX impact of approximately $35 million for the year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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