GoDaddy raises annual revenue outlook on robust internet services demand

(Reuters) - Internet services provider GoDaddy raised its forecast for 2024 sales on Wednesday, as it sees upbeat demand for its services from businesses expanding their presence online towards the end of the year.

GoDaddy primarily caters to small- and medium-scale businesses that avail the company's services spanning from domains to online presence tools and payments.

The company expects fiscal 2024 revenue in the range of $4.55 billion to $4.57 billion, up from its prior forecast of between $4.53 billion and $4.57 billion.

Earlier this year, it launched GoDaddy Airo, an AI-powered solution designed to build and help grow businesses online.

For the fourth quarter, GoDaddy expects revenue between $1.17 billion and $1.19 billion, the midpoint of which is in line with analysts' average estimate of $1.18 billion, according to data compiled by LSEG.

Total bookings in the third quarter rose 9% to $1.2 billion. Net income for the quarter ended Sept 30. rose 45% to $190.5 million.

(Reporting by Rishi Kant and Arsheeya Bajwa in Bengaluru; editing by Alan Barona)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Ukrainian drones hit warehouse of Russian online retailer Ozon in overnight strikes
• Australia's capital to join gun buyback in response to Bondi Beach attack, Albanese says
• Texas seeks federal probe of airport washing facilities, Muslim group denounces move