Surging demand helped domain and web hosting provider GoDaddy post significant increases in profit and revenues for its latest financial quarter.
The company’s domain and ecommerce offerings were reported as being among the services which helped push the company’s year-on-year revenue increase.
"GoDaddy stepped out on the commerce stage in a big way with the hardware and payments offerings we launched in Q3," said GoDaddy CEO Aman Bhutani.
"New solutions like these, combined with a consistent, cash-generative business, give us confidence in our ability to pursue new opportunities and drive profitable growth at scale."
GoDaddy OmniCommerce
GoDaddy has worked to design and manufacture several in-house components, and has also created its own OmniCommerce solution for Websites + Marketing with point-of-sale devices, integrated payments and other solutions that power online and offline commerce.
GoDaddy's Websites + Marketing Annualized Recurring Revenue (ARR) grew by more than 20% year over year for Q3 2021, with products such as its Managed WordPress hosting service and GoDaddy Studios helping the company to surpass $400 million.
GoDaddy CFO Mark McCaffrey, said: “We are pleased with the Q3 results and excited about the many opportunities for growth ahead.”
"We are focused on executing in Q4 and beyond, and we are looking forward to sharing more about GoDaddy's bright future at our Investor Day in February."
Despite the overall growth, GoDaddy’s Q3 results failed to outshine its previous quarter, where the company revealed a 15.5% revenue increase.
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