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Internet domain provider GoDaddy missed Wall Street estimates for s ales from its highly profitable web hosting business, pushing its shares.
Shares of GoDaddy, which have gained about 52 percent this year, fell.50 in after-hours trading. By Munsif Vengattil (Reuters) - Internet domain provider GoDaddy (. The result overshadowed stronger-than-expected revenue and profit for the second quarter and a higher revenue forecast for the year as GoDaddy signed up more customers and earned more from each user. The company earned 12 cents per share, above analysts estimates of 8 cents. Analysts have said the Scottsdale, Arizona-based companys web hosting division generates profit margins well above 70 percent, compared with roughly half that amount at the domain business. (This version of the August 2nd story corrects paragraph 4 to remove reference to revenue growth in hosting business in previous quarters). Average revenue per user rose.2 percent to 142.
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