GoDaddy Reports Second Quarter 2022 Financial Results

GoDaddy Q2 2022 Earnings

GoDaddy Inc. (NYSE: GDDY), reported Q2 2022 earnings. Revenue up 9% year-over-year; Net Income up 93% year-over-year. The stock is up 3% in after hours trading.

Business Highlights

  • Annualized recurring revenue (ARR) for applications and commerce grew 12% year-over-year to $1.2 billion in the second quarter of 2022.
  • ARR for core platform grew 5% year-over-year to $2.3 billion in the second quarter of 2022.
  • GoDaddy drove continued strength in adoption of GoDaddy Payments for eCommerce solutions during the second quarter with 80% of Websites + Marketing commerce customers and 30% of Managed WordPress customers in the WooCommerce tier selecting GoDaddy Payments.
  • GoDaddy achieved strong growth in its commerce offerings with gross merchandise volume (GMV) of $28 billion, up 12% year-over-year in the second quarter.
  • GoDaddy launched Payable Domains pilot program, with full launch expected in the third quarter. Payable Domains simplifies the online payments process by providing customers a professional branded checkout and allowing them to accept payments without any other subscription.
  • GoDaddy continued to innovate and enhance solutions provided to GoDaddy Pros in the second quarter, launching a beta WooSaas online store, offering a solution targeted to larger merchants. This offering simplifies user experience with exclusive functionality as well as premium extensions and features.

Read the full press release here

Leave a Reply

Your email address will not be published. Required fields are marked *