GoDaddy forecasts quarterly revenue above estimates on AI push
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A man wearing a shirt featuring one of the slogans of web hosting company GoDaddy stands below screens with the company's logo, as it makes its initial public offering (IPO) at the New York Stock Exchange April 1, 2015. REUTERS/Brendan McDermid
April 30 (Reuters) - GoDaddy on Thursday forecast quarterly revenue above estimates, betting on its artificial intelligence tools to attract more small businesses to its platform.
Shares of the Tempe, Arizona-based company were up over 4% after the bell.
The web hosting company has been rolling out a suite of AI features designed to help small and medium-sized businesses build and manage their digital presence more efficiently.
• GoDaddy's Airo.ai platform, which launched in beta last year with five AI agents, has rapidly expanded to over two dozen, handling tasks from logo creation to marketing campaigns.
• "As we continue to deliver one-stop-shop solutions for our microbusiness customers, we are leading with disciplined execution and driving compounding free cash flow," CFO Mark McCaffrey said.
• The company expects second-quarter revenue between $1.29 billion and $1.31 billion, compared with analysts' average estimate of $1.29 billion, according to data compiled by LSEG.
• GoDaddy reported first-quarter revenue of $1.27 billion, beating estimates of $1.26 billion. Profit fell 2% to $214.6 million.
(Reporting by Anhata Rooprai in Bengaluru; Editing by Tasim Zahid)
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