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GoDaddy shares soar after revenue tops Wall Street estimates

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Posted at 8:14 AM, Feb 17, 2020
and last updated 2020-02-17 10:16:34-05

Although its fourth-quarter earnings fell short of Wall Street expectations, GoDaddy Inc. shares rocketed higher Friday after the Scottsdale-based web hosting giant easily beat revenue expectations for the quarter.

In addition, the company issued full-year revenue guidance for 2020 that was slightly ahead of analysts' expectations.

According to TheStreet.com, that prompted analysts at Raymond James, Oppenheimer and RBC Capital to issue positive reports on the company to shareholders.

Scottsdale-based GoDaddy predicted it would reach revenue of $3.32 billion this year, slightly higher than analysts' forecasts of $3.31 billion.

Read more from the Phoenix Business Journal.