Research Desk Line-up: Momo Post Earnings Coverage
LONDON, UK / ACCESSWIRE / August 30, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on GoDaddy Inc. (NYSE: GDDY), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=GDDY, following the Company’s reporting of its second quarter fiscal 2017 operating results on August 08, 2017. The world’s largest cloud platform dedicated to small, independent ventures, outperformed top- and bottom-line expectations and also raised its revenue and unlevered free cash flow guidance for 2017. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member’s account at:
http://protraderdaily.com/register/
Get more of our free earnings reports coverage from other constituents of the Internet Software & Services industry. Pro-TD has currently selected Momo Inc. (NASDAQ: MOMO) for due-diligence and potential coverage as the Company announced on August 22, 2017, its unaudited financial results for Q2 2017. Register for a free membership today, and be among the early birds that get access to our report on Momo when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on GDDY; also brushing on MOMO. With the links below you can directly download the report of your stock of interest free of charge at:
http://protraderdaily.com/optin/?symbol=GDDY
http://protraderdaily.com/optin/?symbol=MOMO
Earnings Reviewed
For the second quarter ended June 30, 2017, GoDaddy’s total revenue rose 22.3%, or 22.5% on a constant currency basis, to $557.8 million compared to revenue of $456.2 million in Q2 2016. The Company’s revenue number beat analysts’ expectations of $551 million.
For Q2 2017, GoDaddy’s total bookings came at $667.5 million, up 23.9% on a y-o-y basis, or 25.8% on a constant currency basis, compared to $538.6 million in Q2 2016.
The Company recorded net income attributable to GoDaddy of $20.8 million, or $0.10 per share, compared to net loss of $8.9 million, or $0.11 per share. The Company’s earnings, adjusted to account for discontinued operations, were $0.13 per share. The earnings results easily topped Wall Street’s estimates of $0.03 per share.
Revenue Details
During Q2 2017, GoDaddy’s domains revenue increased 14.6% to $263.3 million compared to revenue of $229.8 million in Q2 2016. The majority of growth was organic, driven by international, strong renewals, and aftermarket domain sales, with the remainder attributable to the addition of HEG.
GoDaddy’s Hosting and Presence revenue totaled $214.9 million, up 28.3% on a y-o-y basis compared to $167.5 million in Q2 2016, with the majority of the incremental revenue coming from HEG. Organic growth was in the low double digits, in-line with the Company’s expected longer-term growth of roughly 1x to 2x customer growth rate.
For Q2 2017, GoDaddy’s Business Applications revenue surged 35.1% to $79.6 million, driven by the Company’s growing product suite and customer base along with a small contribution from the addition of HEG. GoDaddy’s International revenue soared 56.7% to $187.7 million, or 61.2% on a constant currency basis.
At the end of Q2 2017, GoDaddy total customers were 16.88 million, up 17.8% on y-o-y basis, including HEG’s customers of over 1.6 million compared to 14.33 million customers at the end of Q2 2016. The Company’s average revenue per user (ARPU) of $129 grew 2.8% on a y-o-y basis, and organic ARPU advanced 5.9% to $132 on a y-o-y basis.
Cash Matters
For Q2 2017, GoDaddy’s net cash provided by operating activities was $113.3 million, up 22.6% on y-o-y basis. The Company’s unlevered free cash flow of $135.0 million, up 60.9% on a y-o-y basis. At June 30, 2017, total cash, cash equivalents, and short-term investments were $591.2 million, total debt was $3.07 billion, and net debt was $2.47 billion.
GoDaddy completed a secondary offering of approximately 27.6 million shares of its Class A common stock sold by certain of its stockholders at $38.50 per share in May 2017, increasing the publicly available float. The Company completed a $275 million share repurchase of 7.3 million LLC units of Desert Newco in May 2017, reducing the effects of share dilution.
Business Outlook
For the third quarter ending September 30, 2017, GoDaddy is forecasting total revenue in the range of $577 million to $582 million, including HEG. For the full year ending December 31, 2017, GoDaddy raised its revenue expectations to a range of $2.215 billion to $2.225 billion, representing approximately 20% growth at the midpoint.
For FY17, GoDaddy raised its unlevered free cash flow expectations to a range of $475 million to $485 million, representing approximately 35% growth at the midpoint.
Stock Performance
On Tuesday, August 29, 2017, the stock closed the trading session at $42.76, rising slightly by 0.09% from its previous closing price of $42.72. A total volume of 470.95 thousand shares have exchanged hands. GoDaddy’s stock price soared 3.94% in the last three months, 16.96% in the past six months, and 32.38% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have rallied 22.35%. The stock is trading at a PE ratio of 234.95. At Tuesday’s closing price, the stock’s net capitalization stands at $7.07 billion.
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