GoDaddy beats quarterly profit estimates on higher subscribers

(Reuters) - GoDaddy Inc topped analysts' estimates for fourth-quarter revenue and profit on Wednesday, as the web hosting company earned more from a higher number of subscribers.

The world's largest domain name registrar said it had about 18.5 million customers at the end of the reported quarter, up 6.8 percent compared with a year earlier.

The company also forecast full year 2019 revenue between $2.97 billion and $3.00 billion, compared with analysts' estimate of $2.99 billion, according to IBES data from Refinitiv.

For the fourth quarter, average revenue per user rose 6.6 percent to $148.

Net income attributable to the company fell to $42.5 million, or 24 cents per share, in the quarter ended Dec. 31, from $92.6 million, or 54 cents per share, a year earlier.

 

Analysts were expecting the company to earn 14 cents per share.

Total revenue rose 15.5 percent to $695.8 million, beating estimates of $693.6 million.

(Reporting by Akanksha Rana in Bengaluru; Editing by Shounak Dasgupta)