GoDaddy(US:GDDY)2024-08-02 00:05Financial Performance - GoDaddy's Q2 2024 revenue reached $1.124 billion, a 7% increase compared to $1.048 billion in Q2 2023[48] - Applications & Commerce (A&C) revenue grew by 15% to $406 million in Q2 2024, up from $352 million in Q2 2023[32, 60] - Core Platform revenue increased by 3% to $719 million in Q2 2024, compared to $696 million in Q2 2023[32, 60] - Free cash flow increased by 35% to $323 million in Q2 2024, compared to $240 million in Q2 2023[48] - Normalized EBITDA grew by 25% to $332 million in Q2 2024, up from $265 million in Q2 2023, with a margin expansion of 400 bps+ to 29%[12, 48, 60] Strategic Initiatives and Growth - A&C Annual Recurring Revenue (ARR) increased by 14% to $1.5 billion[37] - Core Platform ARR increased by 2% to $2.3 billion[40] - GoDaddy Airo has reached over 1 million new customers, with over 500,000 engaged in the experience since launch and is poised to launch in over 90 additional countries[15] Capital Allocation - GoDaddy has completed $3.1 billion in share buybacks under current authorizations, repurchasing 38.3 million shares, resulting in a 23% reduction of shares outstanding since January 2022[52, 53] - The company has $0.9 billion remaining for future share repurchases[53] Outlook - GoDaddy projects revenue between $1.13 billion and $1.15 billion for Q3 2024 and between $4.525 billion and $4.565 billion for the full year 2024[58] - The company anticipates mid-teens growth for Applications & Commerce and low single-digit growth for Core Platform in both Q3 2024 and full year 2024[58] - GoDaddy expects a Normalized EBITDA margin of approximately 29% for Q3 2024 and full year 2024, and unlevered free cash flow of $1.45 billion+ and free cash flow of $1.3 billion+[58]