Why GoDaddy's Shares Jumped as Much as 16.7% Higher Today

Shares of GoDaddy (NYSE: GDDY) rose as much as 16.7% on Thursday following the release of a strong third-quarter report. By 1 p.m. EST, the stock had cooled down to a still-impressive 15.1% gain.

Wall Street consensus had been pointing to earnings near $0.21 per share on revenue in the vicinity of $761.4 million. The provider of domain name services and cloud-based tools used to run small to medium businesses fell a rounding error short of the sales target, landing at $760.5 million. At the same time, GoDaddy completely crushed analysts' earnings projections with an adjusted net profit of $0.42 per diluted share.

Image source: GoDaddy.

Source Fool.com