GoDaddy said total revenue for the 3 months ended March 31, 2024 rose 7.0% to $1,108.5 million, and total bookings increased 9.5% to $1,312.7 million.

1. 01

   GoDaddy said total revenue for the 3 months ended March 31, 2024 rose 7.0% to $1,108.5 million, and total bookings increased 9.5% to $1,312.7 million.

2. 02

   The company said A&C revenue grew 13.3% and Core revenue grew 3.9% over the same period. It cited growth of 17.3% in productivity applications and 41.1% in commerce solutions as drivers in A&C, and said Core hosting revenue fell 9.0%.

3. 03

   The company said restructuring and other expense was $22.4 million for Q1 2024, of which $11.1 million was for restructuring activities and $5.8 million was related to the abandonment of operating leases. It said restructuring and other expense for Q1 2023 was $52.3 million.

4. 04

   The company said net cash provided by operating activities for Q1 2024 was $297.2 million, up $26.9 million from $270.3 million a year earlier. It also said it repurchased Class A common stock for a total of $147.7 million over the same period, and that as of March 31 it had $1,287.8 million of remaining authorization.

Key figures

Quarter ended March 31, 2024

Revenue

$1.1B

Operating income

$176M

Net income

$402M

Operating cash flow

$297M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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