GoDaddy, the renowned web hosting and domain registration giant, recently released its financial report for the third quarter of 2023, showcasing robust performance and exceeding expectations. The report highlights various key indicators, including net income, revenue growth, and strategic initiatives, providing investors and stakeholders with valuable insights into the company’s financial health and future prospects.

Key Financial Highlights:

  1. Net Income and Margin Expansion: GoDaddy reported a net income of $131.0 million for Q3 2023, marking a substantial increase of 31.0% compared to the same period in 2022. This impressive growth reflects the company’s ability to drive profitability and optimize operational efficiency. The net income margin reached 12%, indicating a healthy bottom line.
  2. Revenue Growth: Total revenue for the third quarter stood at $1,069.7 million, showcasing a 3.5% increase year-over-year. This growth is a testament to GoDaddy’s continued market relevance and successful execution of its business strategies.
  3. Segment Performance: Both Applications and Commerce (A&C) and Core Platform (Core) segments contributed significantly to the overall revenue. A&C revenue grew by 11% year-over-year, reaching $363 million, while Core Platform revenue remained stable at $706 million.
  4. International Expansion: GoDaddy’s international revenue increased by 3.9%, demonstrating the company’s successful global expansion efforts. With a 4.5% constant currency growth, GoDaddy is tapping into diverse markets and leveraging its services on a global scale.

Strategic Initiatives and Technological Advancements:

  1. Integrated Technology Stack: GoDaddy completed the integration of two platforms into its technology stack during Q3 2023. This integration not only simplifies the company’s infrastructure but also opens avenues for additional margin opportunities in the coming quarters.
  2. Innovative AI-Powered Feature: The introduction of Instant Video, a new AI-powered feature within the GoDaddy Studio App, is a notable move. This feature empowers small businesses to swiftly create engaging social media and video content, enhancing customer engagement and leveraging digital marketing and social commerce opportunities.
  3. Share Repurchases: GoDaddy showcased its commitment to shareholder value by repurchasing 17.3 million shares of its common stock year-to-date through October 31, 2023. This initiative, totaling $1.3 billion, reflects the company’s confidence in its long-term growth and financial stability.

Strategic Outlook and Future Projections:

  1. Q4 2023 Targets: GoDaddy aims for total revenue in the range of $1.095 billion to $1.115 billion for the fourth quarter, representing a 6% year-over-year growth at the midpoint. Applications and commerce revenue growth is projected at approximately 13%, with core platform revenue growth ranging from 2% to 3%.
  2. Full-Year 2023 Expectations: For the full year ending December 31, 2023, GoDaddy expects revenue in the range of $4.250 billion to $4.270 billion, representing a 4% year-over-year growth at the midpoint. The company also anticipates unlevered free cash flow of at least $1.2 billion.
  3. 2024 Targets: Looking ahead to 2024, GoDaddy sets an ambitious goal of achieving approximately 31% NEBITDA margin, driven by improvements in profitability, expense initiatives, and operational discipline.


GoDaddy’s Q3 2023 financial report underscores its commitment to innovation, financial discipline, and global expansion. The company’s strategic initiatives, coupled with impressive financial metrics, position it as a leader in the ever-evolving digital landscape. As GoDaddy continues to drive growth and leverage technological advancements, investors and stakeholders can anticipate a promising future for this industry powerhouse.