GoDaddy raises annual revenue outlook on robust internet services demand

GoDaddy

30/10/2024 20:55

Oct 30 (Reuters) - Internet services provider GoDaddy
 GDDY.N  raised its forecast for 2024 sales on Wednesday, as it
sees upbeat demand for its services from businesses expanding
their presence online towards the end of the year.
    GoDaddy primarily caters to small- and medium-scale
businesses that avail the company's services spanning from
domains to online presence tools and payments.
    The company expects fiscal 2024 revenue in the range of
$4.55 billion to $4.57 billion, up from its prior forecast of
between $4.53 billion and $4.57 billion.
    Earlier this year, it launched GoDaddy Airo, an AI-powered
solution designed to build and help grow businesses online. 
    For the fourth quarter, GoDaddy expects revenue between
$1.17 billion and $1.19 billion, the midpoint of which is in
line with analysts' average estimate of $1.18 billion, according
to data compiled by LSEG.
    Total bookings in the third quarter rose 9% to $1.2 billion.
Net income for the quarter ended Sept 30. rose 45% to $190.5
million. 
    
    
    

 (Reporting by Rishi Kant and Arsheeya Bajwa in Bengaluru;
editing by Alan Barona)
 ((ArsheeyaSingh.Bajwa@thomsonreuters.com; +91 8510015800))