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GoDaddy raises annual revenue outlook on robust internet services demand
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GoDaddy raises annual revenue outlook on robust internet services demand
Oct 31, 2024 3:57 AM

Oct 30 (Reuters) - Internet services provider GoDaddy ( GDDY )

raised its forecast for 2024 sales on Wednesday, as it

sees upbeat demand for its services from businesses expanding

their presence online towards the end of the year.

GoDaddy ( GDDY ) primarily caters to small- and medium-scale

businesses that avail the company's services spanning from

domains to online presence tools and payments.

The company expects fiscal 2024 revenue in the range of

$4.55 billion to $4.57 billion, up from its prior forecast of

between $4.53 billion and $4.57 billion.

Earlier this year, it launched GoDaddy Airo, an AI-powered

solution designed to build and help grow businesses online.

For the fourth quarter, GoDaddy ( GDDY ) expects revenue between

$1.17 billion and $1.19 billion, the midpoint of which is in

line with analysts' average estimate of $1.18 billion, according

to data compiled by LSEG.

Total bookings in the third quarter rose 9% to $1.2 billion.

Net income for the quarter ended Sept 30. rose 45% to $190.5

million.

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