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Why GoDaddy Stock Fell Sharply Friday

TheMotleyFool

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Why GoDaddy Stock Fell Sharply Friday: https://g.foolcdn.com/editorial/images/707893/why-gddy-stock-is-down.jpg

Shares of GoDaddy (NYSE: GDDY), a domain name registrar and provider of online tools, took a hit on Friday. The stock fell as much as 11% but is down 7% as of 12:25 p.m. ET.

The tech stock's decline came after GoDaddy's third-quarter earnings report. While the company reported better-than-expected earnings per share, its revenue was slightly below the consensus analyst forecast. Further, management's top-line outlook for Q4 and the full year were both below expectations.

GoDaddy's third-quarter revenue came in at $1.03 billion, up 7.2% year over year. This was below analysts' average estimate for $1.04 billion. Earnings per share increased from $0.58 in the year-ago period to $0.63, beating a consensus view for $0.58.

Source Fool.com

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