Domains segment hits milestone and GoDaddy announces two retirements.
GoDaddy (NYSE: GDDY) released Q4 and full-year 2020 earnings today after the market closed.
For the fourth quarter, GoDaddy revenue was up 12% year over year to $874 million. Bookings were up 13% to $943 million.
The domain name segment topped quarterly revenue of $400 million for the first time, turning in $402 million in Q4. That compares with $353 million in Q4 2019 and $387 million in Q3 2020.
Its hosting business grew by 5% and business applications by 20% year over year.
Total 2020 revenue was $3.32 billion, up 11% over 2019. Total bookings also increased 11% to $3.78 billion.
GoDaddy spent more on advertising during 2020 to take advantage of increased interest in web presence services during the pandemic. It said that for each dollar it invested in marketing in 2020, it booked 85 cents of incremental sales. This seems strong given high renewal rates for web presence products such as hosting and domain registrations.
The company announced that Chief Financial Officer Ray Winborne and Chief Legal Officer Nima Kelly are retiring this year. They will stay on board until replacements are found.