(Reuters) – Web hosting company GoDaddy Inc reported first-quarter profit below Wall Street expectations on Thursday, weighed down by persistent rising costs and slower customer growth, sending its shares 6 percent lower in after-hours trading.
FILE PHOTO: The company logo and ticker for GoDaddy Inc. is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 4, 2019. REUTERS/Brendan McDermid
GoDaddy has been pressured by higher costs since it went public in 2015 as it expands its international customer base and spends on marketing and product development.
GoDaddy, which manages roughly a fifth of all global domains, said total costs rose nearly 14 percent to $691.2 million, compared with average estimates of $436.93 million based on consensus