GoDaddy's financial report reveals 18% increase in operating activities cash

Started by Domaining News, Feb 17, 2023, 02:39 AM

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GoDaddy has reported its financial results for the fourth quarter and full year, indicating a 7% increase in revenue year-over-year. The company achieved a net income of $352.9 million, representing a year-over-year increase of 45.3%.

 Furthermore, normalized EBITDA grew by 16.1% YoY, reaching $1 billion. Cash provided by operating activities totaled $979.7 million, which is an 18.1% YoY increase.

In 2022, GoDaddy's total revenue increased by 7%, while cash provided by operating activities rose by 18%, and free cash flow increased by 13%. However, the company plans to roll out multiple commerce offerings in 2023 to allow customers to transact seamlessly.

According to the CEO, Aman Bhutani, these initiatives are part of the company's strategy to invest in long-term projects that fuel future growth. Additionally, GoDaddy's repurchase of 17.2 million shares of common stock showed the firm's confidence in its business model.

The outlook for the next quarter and full year 2023 estimates total revenue of $1.03 billion to $1.05 billion and $4.25 billion to $4.32 billion, respectively. This represents a 4% YoY increase for the next quarter and 5% YoY for the full year at the midpoint.
The strong financial results despite macroeconomic headwinds demonstrates the company's resilience in its business. As GoDaddy continues to innovate and expand its product roadmap, it is on track to participate in its customers' success and drive long-term value for shareholders.


GoDaddy, the American web hosting provider, has announced that a critical vulnerability was discovered on February 16th. This flaw allowed attackers to install malware on the GoDaddy platform and steal the source code related to some of its services. In December 2022, GoDaddy received several complaints about client website redirections from legitimate sites to phishing scams. It was later discovered that these were due to unauthorized third-party access to servers hosted in the cPanel environment.

As a result of the attack, malware was installed on customer websites, causing intermittent redirection. GoDaddy says this was part of an attempt to infect websites and servers with malware for phishing campaigns, malware distribution, and other malicious activities. According to a filing with the SEC, the December 2022 incident is related to two previous security events in March 2020 and November 2021.

In March 2020, the credentials of approximately 28,000 hosting customers and a small number of employees were compromised. More than one million active and inactive ManageWP clients suffered a breach in November 2021. These incidents raise questions regarding the adequacy of GoDaddy's cybersecurity measures and their ability to safeguard sensitive customer data.