Ecommerce demand ahead of Black Friday helps boost GoDaddy revenues

Date:
Thu, 04 Nov 2021 15:02:12 +0000

Description:
GoDaddys Q3 results show ecommerce boost ahead of Black Friday period.

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Surging demand helped domain and web hosting provider GoDaddy post
significant increases in profit and revenues for its latest financial
quarter.

The companys domain and ecommerce offerings were reported as being among the services which helped push the companys year-on-year revenue increase.

"GoDaddy stepped out on the commerce stage in a big way with the hardware and payments offerings we launched in Q3," said GoDaddy CEO Aman Bhutani.

"New solutions like these, combined with a consistent, cash-generative business, give us confidence in our ability to pursue new opportunities and drive profitable growth at scale." GoDaddy OmniCommerce

GoDaddy has worked to design and manufacture several in-house components, and has also created its own OmniCommerce solution for Websites + Marketing with point-of-sale devices, integrated payments and other solutions that power online and offline commerce.

GoDaddy's Websites + Marketing Annualized Recurring Revenue (ARR) grew by
more than 20% year over year for Q3 2021, with products such as its Managed WordPress hosting service and GoDaddy Studios helping the company to surpass $400 million.

GoDaddy CFO Mark McCaffrey, said: We are pleased with the Q3 results and excited about the many opportunities for growth ahead.

"We are focused on executing in Q4 and beyond, and we are looking forward to sharing more about GoDaddy's bright future at our Investor Day in February."

Despite the overall growth, GoDaddys Q3 results failed to outshine its previous quarter , where the company revealed a 15.5% revenue increase.



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Link to news story: https://www.techradar.com/news/ecommerce-demand-ahead-of-black-friday-helps-bo ost-godaddy-revenues/


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