Why GoDaddy Shares Are Dipping Today
Portfolio Pulse from Lekha Gupta
GoDaddy Inc's shares are trading lower by around 6% after it reported worse-than-expected Q2 FY23 financial results and issued Q3 revenue guidance below estimates. Revenue grew 3.2% Y/Y to $1.048 billion, missing the consensus of $1.06 billion. The company repurchased shares worth $746 million year-to-date through July 2023. For Q3 2023, GDDY expects revenues of $1.055 billion-$1.075 billion and a normalized EBITDA margin of about 26%.

August 04, 2023 | 5:18 pm
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GoDaddy's shares are down after reporting lower than expected Q2 FY23 results and issuing Q3 revenue guidance below estimates. The company also repurchased shares worth $746 million.
GoDaddy's shares are trading lower due to the company's worse-than-expected Q2 FY23 financial results and lower Q3 revenue guidance. This indicates a negative sentiment among investors, which is likely to put downward pressure on the stock in the short term.
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