Summary by Moomoo AI
GoDaddy Inc. reported strong financial results for Q3 2024, with total revenue increasing 7.3% year-over-year to $1.15 billion. Net income surged 45.4% to $190.5 million, while operating income grew 51.9% to $253.8 million. The company's normalized EBITDA rose 23.8% to $366.5 million, with operating cash flow up 26.1% to $355.2 million.Applications and Commerce (A&C) segment revenue grew 16.5% to $423.1 million, driven by 20.5% growth in productivity applications and 60% growth in commerce solutions. Core Platform revenue increased 2.6% to $724.5 million, supported by 7.1% growth in domain registration. Total bookings rose 9% to $1.24 billion, reflecting strong customer adoption across product offerings.The company continued its share repurchase program, buying back 5,179 shares for $668.1 million during the first nine months of 2024. As of September 30, GoDaddy had $767.4 million remaining under its repurchase authorization. The company maintains a strong balance sheet with $767.1 million in cash and cash equivalents while continuing to invest in AI-powered innovations and commerce capabilities.
