(Reuters) -GoDaddy on Thursday reported a nearly 8% increase in first-quarter revenue, as the addition of artificial intelligence features boosted demand for its internet hosting services.
The company also announced a share repurchase program of up to $3 billion through 2027.
GoDaddy, which helps businesses set up online domains, payment systems and expand their online presence, has been rolling out AI features to gain traction for its services.
Analysts see GoDaddy increasingly becoming the one-stop shop for small business needs across a growing set of solutions.
They see GoDaddy as having less direct tariff exposure due to its mix of service offerings and steady domains business.
In 2024, the company launched GoDaddy Airo, an AI-powered tool for designing and building a business’ online presence.
In April, it announced the launch of GoDaddy Agency, a partner program to connect digital agencies with small- and mid-sized business leads and providing access to comprehensive tools, services and support to grow client offerings.
For the quarter ended March 31, GoDaddy reported revenue of $1.19 billion, in line with analysts’ estimates, according to data compiled by LSEG.
The company forecast second-quarter revenue in the range of $1.20 billion to $1.22 billion, with the midpoint coming in line with analysts’ average estimate of $1.21 billion.
It reaffirmed its full-year revenue forecast.
(Reporting by Juby Babu in Mexico City; Editing by Alan Barona)
