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Jun 30, 2024
GoDaddy Q2 2024 Earnings Report
GoDaddy's Q2 2024 financial performance was marked by revenue growth, increased profitability, and strong cash flow generation.
Key Takeaways
GoDaddy reported a strong second quarter in 2024, with total revenue reaching $1.1 billion, up 7% year-over-year. Net income increased by 76% to $146.3 million, and free cash flow grew by 35% to $323.4 million. The company is also making progress on its key initiatives, including growing discovery and engagement of its AI-powered experience, GoDaddy Airo.
Total revenue reached $1.1 billion, a 7% increase year-over-year.
Applications and Commerce (A&C) revenue grew by 15% year-over-year, reaching $405.6 million.
Net income increased significantly by 76% year-over-year, totaling $146.3 million.
Free cash flow increased by 35% year-over-year, amounting to $323.4 million.
GoDaddy
GoDaddy
GoDaddy Revenue by Segment
Revenue by Segment
Applications & Commerce Revenue
CapyFin.comCore Platform Revenue
CapyFin.com Forward Guidance
GoDaddy anticipates revenue between $1.13 billion and $1.15 billion for Q3 2024, representing 7% year-over-year growth at the midpoint. The company has raised its full-year revenue expectations to a range of $4.525 billion to $4.565 billion, representing year-over-year growth of 7% at the midpoint.
Positive Outlook
- Expects total revenue in the range of $1.13 billion to $1.15 billion for Q3 2024.
- A&C revenue growth in the mid-teens for Q3 2024.
- Core revenue growth in the low single digits for Q3 2024.
- Full-year revenue expectations raised to $4.525 billion to $4.565 billion.
- Full-year free cash flow target raised to at least $1.3 billion.
Challenges Ahead
- Projections of changes in individual balance sheet amounts are not possible without unreasonable effort.
- Macroeconomic conditions and developments in the economy, financial markets and credit markets could affect results.
- Continued escalation of geopolitical tensions could affect results.
- Level of interest rates and inflationary pressures could affect results.
- The unpredictable nature of our rapidly evolving market
Revenue & Expenses
Visualization of income flow from segment revenue to net income