GoDaddy shares have skidded in extended trading after the web hosting company missed second-quarter earnings expectations.
The company posted earnings of $0.54 per share, down from $0.56 a year earlier and short of Street expectations of $0.57. Revenue was $1.05 billion, up 2.9% year-over-year and below estimates of $1.06 billion.
Shares of GoDaddy tumbled 6.8% to $70.60 in extended trading.
Looking ahead, GoDaddy CEO Aman Bhutani spoke to the potential of artificial intelligence to drive growth.
"Our mission at GoDaddy – to empower entrepreneurs everywhere, making opportunity more inclusive for all – is getting an unprecedented boost by AI technology," Bhutani said in a statement.
"For the first time, we can bundle domains with an increasing array of AI-powered capabilities that help small businesses quickly overcome administrative burdens, attract new customers and focus on growth.”
For the third quarter ending September 30, GoDaddy issued revenue guidance of $1.055 billion to $1.075 billion, representing year-over-year growth of 3% at the midpoint.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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