GoDaddy (GDDY) Beats Q2 Earnings and Revenue Estimates

Company Performance - GoDaddy reported quarterly earnings of $1.10 per share, exceeding the Zacks Consensus Estimate of $1.07 per share, and up from $0.63 per share a year ago, representing an earnings surprise of 2.80% [1] - The company posted revenues of $1.12 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.97%, and an increase from $1.05 billion year-over-year [1] - Over the last four quarters, GoDaddy has surpassed consensus EPS estimates four times and topped consensus revenue estimates three times [1] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $1.24 on revenues of $1.14 billion, and for the current fiscal year, it is $6.49 on revenues of $4.53 billion [4] - The estimate revisions trend for GoDaddy is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [4] Industry Context - The Internet - Delivery Services industry, to which GoDaddy belongs, is currently in the bottom 27% of over 250 Zacks industries, suggesting potential challenges ahead [5] - QuinStreet, another company in the same industry, is expected to report quarterly earnings of $0.11 per share, reflecting a year-over-year change of +1200%, with revenues anticipated to be $187.76 million, up 44.1% from the previous year [5][6]