The following is a summary of the GoDaddy Inc. (GDDY) Q1 2024 Earnings Call Transcript:
Financial Performance:
GoDaddy reported Q1 total revenue of $1.1 billion, a 7% growth on reported and constant currency basis.
The Applications & Commerce segment delivered $383 million in revenue, growing 13%.
A strong free cash flow of $327 million was reported.
Core platform revenue was $725 million, growing 4%, largely from demand in domains and aftermarket.
Subscription revenue saw a 2% growth.
Unlevered free cash flow rose 18% to $359 million, and free cash flow increased 26% to $327 million.
Business Progress:
The company expanded its free cash flow by 26% due to growth in the Applications and Commerce segment and disciplined margin expansion.
GoDaddy launched GoDaddy Smart Terminal Flex, a handheld device allowing customers to make payment on the move, and successfully rolled out GoDaddy Airo to improve customer experiences.
GoDaddy bought back 2.8 million shares by April 30, reducing gross shares by 22% since the start of the authorization.
Full year guidance has been revised to $4.5 billion to $4.56 billion revenue, representing a 6.5% growth at midpoint.
GoDaddy aims to scale their cloud infrastructure and has partnered with WorldPay to expand their product offering.
More details: GoDaddy IR
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