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Internet domain registrar and web hosting company GoDaddy has reported robust financial results for the second quarter ending June 30, 2023, with a revenue of $1.048 billion, showing a 3.2 percent growth compared to the same period last year.
The revenue breakdown for the quarter showcased different performances across GoDaddy’s business segments. The Applications & Commerce division proved to be a significant contributor, generating $351.7 million, a substantial 10.9 percent increase year-over-year. On the other hand, the Core Platform brought in $696.4 million, experiencing a slight 0.3 percent decline compared to the previous year. Meanwhile, the International Business segment generated $341.1 million, reflecting a steady growth of 3.1 percent.
GoDaddy CEO, Aman Bhutani, expressed enthusiasm about the company’s latest achievements, stating, “For the first time, we can bundle domains with an increasing array of AI-powered capabilities that help small businesses quickly overcome administrative burdens, attract new customers, and focus on growth.”
The company’s efforts in incorporating artificial intelligence into its services are evident in their product lineup. GoDaddy has introduced generative AI tools into Websites + Marketing, which assists micro-businesses in managing their online stores by auto-generating product descriptions, customer service messages, and social media ads on platforms like Instagram and Facebook.
Additionally, GoDaddy launched GoDaddy.AI, a free online resource, providing customers with tips and the latest news on generative AI for small businesses, further showcasing the company’s commitment to supporting entrepreneurs.
The financial highlights also showcased GoDaddy’s successful implementation of AI-powered tools, as evidenced by the rise in Annualized Recurring Revenue (ARR) for its Applications and Commerce business, which increased by 10 percent year-over-year, reaching $1.3 billion in the…
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