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GoDaddy surges after second-quarter revenue beat

GoDaddy CEO Blake Irving visits on the floor of the New York Stock Exchange as the website hosting service makes its initial public offering (IPO) on April 1, 2015 in New York.
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GoDaddy CEO Blake Irving visits on the floor of the New York Stock Exchange as the website hosting service makes its initial public offering (IPO) on April 1, 2015 in New York.

GoDaddy stock surged Thursday, a day after the domain and web hosting service provider reported a second-quarter loss that was smaller than the prior year and appointed a new CFO.

It reported revenue of $456.2 million — up 15.6 percent year over year and above company projections between $448 million and $452 million.

The company said customers totaled 14.3 million by the end of the second quarter, up 7.9 percent year over year with average revenue per user up 6.2 percent to $125.

GoDaddy narrowed its losses to 11 cents per share. In the prior year, GoDaddy reported a loss of 46 cents per share.

Analysts expected a loss of 7 cents per share on revenue of $450.5 million, according to a Thomson Reuters consensus estimate.

The company announced the promotion of Scott Wagner to president and COO. Assuming the role of CFO will be Ray Winborne, who held leadership roles at First Data, Delta Air Lines and AT&T.

GoDaddy gave solid third-quarter guidance and expects revenue of $468 million to $471 million for the third quarter.

Shares have dropped 0.87 percent so far this year, but GoDaddy stock closed at $31.78 and spiked more than 12 percent Thursday.

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