Green shoots at Endurance International Group?
Endurance International Group (NASDAQ: EIGI) reported second-quarter earnings this morning.
All major metrics for the business continue to decline as forecasted.
Revenue was $278.2 million, down from $287.8 million in the same quarter last year and $280.7 million in Q1 2019. Adjusted EBITDA and the customer base also declined.
On the positive side, the company continues to pay down its heavy debt load.
Endurance is maintaining its full-year guidance based on these results.
The domain name business, which includes BuyDomains, Domain.com and ResellerClub, also had year-over-year and quarter-over-quarter declines. However, its subscriber base continues to tick up this year after losses last year.
In prepared remarks, Endurance International Group CEO Jeffrey Fox said that premium domain sales (i.e., BuyDomains portfolio) are trending weaker.