GoDaddy reports 12% rise in quarterly revenue, shares up 8%

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© Reuters. The logo for internet company GoDaddy inc is shown on a computer screen in this illustration photo in Encinitas California© Reuters. The logo for internet company GoDaddy inc is shown on a computer screen in this illustration photo in Encinitas California

(Reuters) – GoDaddy Inc (N:) reported a 12% rise in third-quarter revenue as the web hosting company earned more from each user, sending its shares up 8% in extended trading.

Average revenue per user rose 7.1% to $155 in the quarter.

At the end of the third-quarter, GoDaddy added 19.1 million customers, up 4.6%, compared with a 6.7% rise in the year-ago quarter.

Net income attributable to the company rose to $76.2 million, or 42 cents per class A share, in the quarter ended Sept. 30, from $13.2 million, or 8 cents per share, a year earlier. Analysts were expecting 21 cents per share.

Total revenue rose to $760.5 million in the quarter, from $679.5 million.

GoDaddy also announced $500 million share buyback program.

The Scottsdale, Arizona-based company said it expects full-year revenue in the range of $2.98 billion to $2.99 billion, compared with analysts’ estimates of $2.99 billion, according to IBES data from Refinitiv.

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