GoDaddy cuts annual revenue forecast, reports Q2 earnings

GoDaddy revenue forecast Q2 earnings Airo.ai Wix competition

GoDaddy Inc. narrowed its 2024 full‑year revenue outlook to a range of $5.215 billion‑$5.255 billion, revising down from the previous $5.195 billion‑$5.275 billion forecast. The company posted second‑quarter revenue of $1.298 billion, slightly above analysts’ estimate of $1.295 billion, and reported earnings per share of $1.83, beating the consensus estimate of $1.69.

GoDaddy projected third‑quarter revenue of $1.32 billion‑$1.34 billion. CEO Aman Bhutani said the firm is advancing a company‑wide AI transformation, with the Airo.ai platform at its core, which enables customers to create logos, websites and other branded marketing assets. The company noted growing competition from website‑builder rival Wix, which is expanding its own AI‑powered tools.

The firm also reaffirmed full‑year free‑cash‑flow guidance of roughly $1.8 billion and disclosed a share‑repurchase program of $852 million year‑to‑date, reducing its diluted share count by about 7 %.

Entities: Airo.ai · Aman Bhutani · GoDaddy · GoDaddy Inc. · Jen Wong · LSEG · Reddit · Steve Huffman · Tempe, Arizona · United States · Wix.com Ltd.

Claims

What the coverage asserts, and how well corroborated each claim is across sources.

[● 8 SOURCES] Reddit forecast third‑quarter revenue of $860 million to $870 million. (forecast)
[● 8 SOURCES] U.S. daily active unique visitors growth slowed sequentially in Q2. (company_data)
[● 8 SOURCES] Reddit’s AI advertising tools provide a library of successful ads, auto‑generated copy, visitor‑action tracking, and community‑based targeting. (product_description)
[● 8 SOURCES] Reddit’s second‑quarter revenue was $805 million, up 61 % YoY. (financial_report)
[● 8 SOURCES] LSEG analysts’ average estimate for Reddit’s Q3 revenue is $829.1 million. (estimate)
[● 8 SOURCES] Global daily active unique users rose 18 % to 130.3 million. (company_data)
[● 8 SOURCES] Reddit’s advertiser growth in Q2 was 70 % YoY. (company_statement)
[● 8 SOURCES] Reddit expects Q3 adjusted EBITDA of $385 million‑$395 million, above the $369 million estimate. (forecast)
[● 10 SOURCES] GoDaddy previously forecast full‑year revenue of $5.195 billion to $5.275 billion. (GoDaddy)
[● 10 SOURCES] Analysts had estimated GoDaddy Q2 revenue at $1.295 billion. (LSEG)
[● 10 SOURCES] CEO Aman Bhutani said GoDaddy is advancing a company‑wide AI transformation with Airo at the center. (supporting_article_ids)
[● 10 SOURCES] GoDaddy expects full‑year revenue of $5.215 billion to $5.255 billion. (GoDaddy)