GoDaddy reports earnings and tempered outlook
Company anticipates slower growth in 2023.
GoDaddy (GDDY) reported Q4 and full year 2022 earnings after the market closed today. The results provide context to last week’s layoffs.
For Q4, bookings were flat year over year, and revenue eked up just 2%. Revenue in the “Core Platform” division that includes domain names fell 2% year over year. GoDaddy had guided to zero growth for this segment, citing higher than normal big aftermarket sales in Q4 2021. The “Applications & Commerce” segment grew by 11%. Exchange rates shaved a couple of points off most numbers.
For the full year 2022, bookings increased by 4% and revenue by 7%. Core Platform revenue was up 5%, and Applications & Commerce was up 13%.
Slower growth is ahead; GoDaddy is guiding to about 5% revenue growth in 2023.
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