Summary by Moomoo AI
GoDaddy Inc. reported strong financial results for Q2 2024, with total revenue increasing 7.3% year-over-year to $1.12 billion. Net income surged 76.1% to $146.3 million, while operating income grew 74.1% to $208.2 million. Applications and Commerce (A&C) segment revenue rose 15.3% to $405.6 million, driven by growth in productivity applications and commerce solutions.The company's Core Platform revenue increased 3.2% to $718.9 million, supported by 6.6% growth in domain registration revenues and 10.4% growth in aftermarket revenues. Total bookings grew 10.6% to $1.26 billion, reflecting strong customer adoption of productivity solutions and domain services. Normalized EBITDA increased 25.4% to $331.7 million, demonstrating improved operational efficiency.Looking ahead, GoDaddy continues to invest in AI capabilities, including its GoDaddy Airo™ platform. The company maintained strong liquidity with $444.9 million in cash and cash equivalents, while completing $404.2 million in share repurchases during the first half of 2024. Management remains focused on expanding commerce offerings and driving international growth, despite ongoing macroeconomic uncertainties.
