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GoDaddy aims for $3.7bn in revenues by year end

GoDaddy web hosting
(Image credit: GoDaddy)

US-based domain registrar and web hosting company GoDaddy has released its earnings results for the second quarter, reporting a 15.5% increase in total revenue for a $931.3m total.

GoDaddy's CEO Aman Bhutani expressed his thoughts on the web hosting giant's results, saying: "We're pleased with the strong quarter, and we're even more excited about the incredible journey we see ahead for GoDaddy."

"With strong secular tailwinds and great products on the way, we're excited to do more for Everyday Entrepreneurs than we've ever been able to do before."

Business growth

The news follows a successful first quarter earnings, when GoDaddy reported a total revenue of $901.1m in May 2021.

The company also reported total bookings of $1.05bn, up 12.7% year over year, or 10.6% on a constant currency basis.

For its third quarter ending September 30, 2021, GoDaddy expects revenue of approximately $945 million, or 12% year over year growth.

The company is also expecting its full year revenue to reach approximately $3.75 billion, representing 13% year over year growth.

"GoDaddy is a special place with an incredible vision, and I'm thrilled to be a part of it," said GoDaddy CFO Mark McCaffrey. 

"There's an immense long-term opportunity, and GoDaddy has the resources and people we need to pursue that opportunity in a way that serves our customers and creates value for shareholders."   

The company’s steady growth in revenue boils down to a number of factors, including its introduction of GoDaddy payments - a solution that enables websites and Managed WordPress WooCommerce customers to handle all of their commerce transactions directly through GoDaddy.

During Q2, GoDaddy repurchased nearly a million shares for an aggregate purchase price of $81m, with approximately $1bn remaining under current authorizations.

Abigail Opiah

Abigail is a B2B Editor that specialises in Web Hosting and Cloud Services news at TechRadar Pro. She has been a journalist for more than three years covering a wide range of topics in the technology sector. She is now interested in receiving the latest B2B news and updates on website builders, domains, e-commerce platforms and Web hosting.