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GoDaddy Shares Get Going With Sharp Rise

By Kim Khan

Investing.com – Website and domain provider GoDaddy (NYSE:GDDY) surged in afternoon trading following solid quarterly results.

The stock jumped 9% in afternoon trading.

GoDaddy reported a profit of 34 cents per share on revenue of $780.4 million after the bell Thursday.

That topped expectations for earnings per share of 31 cents and revenue of about $777 million, according to analysts’ forecasts compiled by Investing.com.

Earnings per user, a closely watched metric, also topped the Wall Street consensus.

The world’s largest domain registrar, which manages about a fifth of all global web domains earned $158 per user in the quarter compared with analysts’ average estimate of $157.8 per user, according to Refinitiv data.

Looking ahead, GoDaddy predicted revenue of $3.315 billion for 2020, which would be just above the S&P Capital IQ consensus of $3.31 billion.

Shares of the company were up about 4.6% in the last three months before today’s rise.

— Reuters contributed to this report.

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