Shares of GoDaddy Inc. spiked 13% on Friday after the Tempe-based internet internet domain and web-hosting company reported third quarter earnings that beat Wall Street expectations.
GoDaddy (Nasdaq: GDDY) said its favorable third quarter earnings results were driven in part by a sales boost in its applications and commerce segment and reduction in operating expenses.
GoDaddy reported revenue of $1.07 billion and earnings per share of 89 cents in the third quarter, beating the Zacks Consensus Estimate by 6%. The company’s third quarter revenue increased 3.5% compared to $1.03 billion in the third quarter of 2022.
“While margin improvement is increasingly evident in our financial performance, this stems from our earlier restructuring, brand integration and diligent efforts for over a…
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