By Sabela Ojea
Shares of GoDaddy climbed a day after the company posted slightly-higher-than expected revenue growth in the latest quarter and provided an outlook that beat analysts expectations.
At 1:05 p.m. ET, shares were up 14% at $85.40. The stock has surged 27% in the past 12 months.
After the market close Thursday, the online services platform posted third-quarter revenue of $1.069 billion compared with $1.033 billion a year earlier. Analysts polled by FactSet had forecast revenue of $1.065 billion.
For the fourth quarter, the company expects revenue of $1.1 billion to $1.12 billion, while analysts forecast revenue of analysts expectations of $1.1 billion.
“We are excited about the momentum in our business as we venture into a new phase of product offerings and we are confident in our ability to generate further margin expansion, creating long-term value for our shareholders,” Chief Financial Officer Mark McCaffrey said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
Read the full article here
