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GDDY expects revenues between $1.13 billion and $1.15 billion for the third quarter, indicating year-over-year growth of 7% at the mid-point.
The Zacks Consensus Estimate for third-quarter 2024 revenues is pegged at $1.14 billion, suggesting 6.86% growth from the figure reported in the year-ago quarter.
The consensus mark for earnings is pegged at $1.25 per share, unchanged over the past 30 days, indicating growth of 40.45% from the year-ago quarter's reported figure.
GoDaddy’s earnings beat the Zacks Consensus Estimate in the trailing four quarters, delivering an average earnings surprise of 10.25%.
Find the latest EPS estimates and surprises onZacks Earnings Calendar.
Let us see how things have shaped up for the company before this announcement:
Key Factors to Aid GDDY’s Q3 Earnings
GoDaddy has been benefiting from strong momentum across the Applications & Commerce (A&C) business, and expansion in its global footprint. Strength in Create & Grow solutions has been aiding the Application & Commerce segment's top-line growth. Strength in website and marketing, driven by greater engagement with customers based on product launches, has been contributing well.
GoDaddy expects third-quarter A&C revenue growth in the mid-teens and Core revenue growth in the low-single digits. Its pricing and bundling efforts are expected to have driven top-line growth in the to-be-reported quarter.
GoDaddy has been improving its footprint in Commerce, which is expected to have benefited top-line growth in the quarter under review. GoDaddy Airo’s expanding availability is noteworthy.
Small Business Focus to Aid GDDY’s Q3 Results
The company’s focus on small businesses and expanding clientele has been a key catalyst. In the second quarter, it launched the Digital Marketing Suite, offering personalized marketing tools to help users grow their businesses without a website.
GoDaddy introduced the Smart Terminal Flex in April, a compact and versatile Point-of-Sale terminal designed to improve efficiency for small businesses through modern features and seamless integration across various sales channels.
In May, the company expanded its Small Business GenAI Prompt Library, offering more than 185 updated prompts and capabilities to support small business owners globally.
Further expanding its footprint in digital marketing in August, GoDaddy introduced Digital Marketing, an all-in-one solution designed to streamline marketing efforts with AI-powered tools, social media integration and a unified inbox for small business owners.
These factors are expected to have driven GoDaddy’s top-line growth in the to-be-reported quarter.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the exact case here.
GoDaddy currently has an Earnings ESP of 0.00% and a Zacks Rank #2. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Image: Bigstock
GoDaddy Gears Up to Report Q3 Earnings: What's in the Cards?
GoDaddy (GDDY - Free Report) is scheduled to report third-quarter 2024 results on Oct. 30.
GDDY expects revenues between $1.13 billion and $1.15 billion for the third quarter, indicating year-over-year growth of 7% at the mid-point.
The Zacks Consensus Estimate for third-quarter 2024 revenues is pegged at $1.14 billion, suggesting 6.86% growth from the figure reported in the year-ago quarter.
The consensus mark for earnings is pegged at $1.25 per share, unchanged over the past 30 days, indicating growth of 40.45% from the year-ago quarter's reported figure.
GoDaddy’s earnings beat the Zacks Consensus Estimate in the trailing four quarters, delivering an average earnings surprise of 10.25%.
GoDaddy Inc. Price and EPS Surprise
GoDaddy Inc. price-eps-surprise | GoDaddy Inc. Quote
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Let us see how things have shaped up for the company before this announcement:
Key Factors to Aid GDDY’s Q3 Earnings
GoDaddy has been benefiting from strong momentum across the Applications & Commerce (A&C) business, and expansion in its global footprint. Strength in Create & Grow solutions has been aiding the Application & Commerce segment's top-line growth. Strength in website and marketing, driven by greater engagement with customers based on product launches, has been contributing well.
GoDaddy expects third-quarter A&C revenue growth in the mid-teens and Core revenue growth in the low-single digits. Its pricing and bundling efforts are expected to have driven top-line growth in the to-be-reported quarter.
GoDaddy has been improving its footprint in Commerce, which is expected to have benefited top-line growth in the quarter under review. GoDaddy Airo’s expanding availability is noteworthy.
Small Business Focus to Aid GDDY’s Q3 Results
The company’s focus on small businesses and expanding clientele has been a key catalyst. In the second quarter, it launched the Digital Marketing Suite, offering personalized marketing tools to help users grow their businesses without a website.
GoDaddy introduced the Smart Terminal Flex in April, a compact and versatile Point-of-Sale terminal designed to improve efficiency for small businesses through modern features and seamless integration across various sales channels.
In May, the company expanded its Small Business GenAI Prompt Library, offering more than 185 updated prompts and capabilities to support small business owners globally.
Further expanding its footprint in digital marketing in August, GoDaddy introduced Digital Marketing, an all-in-one solution designed to streamline marketing efforts with AI-powered tools, social media integration and a unified inbox for small business owners.
These factors are expected to have driven GoDaddy’s top-line growth in the to-be-reported quarter.
What Our Model Says
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the exact case here.
GoDaddy currently has an Earnings ESP of 0.00% and a Zacks Rank #2. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Meta Platforms (META - Free Report) presently has an Earnings ESP of +2.83% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Meta Platforms’ shares have gained 60.9% year to date. META is set to report its third-quarter 2024 results on Oct. 30.
Check Point Software (CHKP - Free Report) currently has an Earnings ESP of +1.26% and a Zacks Rank #2.
CHKP shares have gained 34.4% year to date. Check Point is set to report its third-quarter 2024 results on Oct. 29.
Garmin (GRMN - Free Report) has an Earnings ESP of +1.03% and a Zacks Rank of 2 at present.
Gramin shares have gained 27.8% year to date. GRMN is set to report its third-quarter 2024 results on Oct. 30.