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GoDaddy Q2 Profit Surges

GoDaddy Inc. (GDDY) Wednesday reported second-quarter net income of $90.4 million or $0.56 per share, up from $46.8 million or $0.27 per share last year.

Revenues for the quarter rose to $1.02 billion from $931.3 million last year.

Analysts polled by Thomson Reuters expected earnings of $0.49 per share and revenues of $1.02 billion for the quarter.

"GoDaddy's strong second quarter results reflect our focus on achieving the strategic initiatives and financial targets we laid out at our Investor Day earlier this year," said GoDaddy CEO Aman Bhutani. "We continue to adapt to the challenging macroeconomic environment, including using success-based marketing spend to drive demand where we see opportunity and investing in technology and development to drive future growth."

Looking forward to the third quarter, GoDaddy is targeting total revenue of $1.030 billion to $1.045 billion. Analysts currently estimate revenues of $1.05 billion.

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