Domain name business keeps growing at GoDaddy.
GoDaddy (NYSE: GDDY) reported first quarter earnings yesterday after the market closed.
First quarter revenue was $792 million, up 12% year-over-year. Bookings increased 9% year-over-year to $951 million.
The domains segment grew 11% year-over-year to $355.9 million. That’s up from $352.3 million in Q4 2019.
This business segment should see a boost going forward from the Uniregistry acquisition. It gives the company more registrations as well as a fresh domain portfolio to sell from, and aftermarket revenue from domain sales on the Uniregistry marketplace.
The company is also adding Neustar to its stable, but the company says the financial impact will be small.
For Q2, GoDaddy expects 7% year-over-year revenue and bookings growth as it faces headwinds from Covid-19. The pandemic impacts the company on both the revenue and efficiency side; call center reps working from home aren’t as efficient as in an office environment.
No analysts on yesterday’s call asked about the impact of Whois privacy changes.
Shares in GoDaddy are up 5% today as of 12:37 PM EDT.