Godaddy Reports Web Hosting Sales Below Estimates

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Godaddy Reports Web Hosting Sales Below Estimates

– Internet domain provider GoDaddy (GDDY.N) missed Wall Street estimates for sales from its highly profitable web hosting business, pushing its shares down 4 percent on Thursday.

GoDaddy is the world’s largest domain name registrar and manages about a fifth of all global web domains, but its web hosting business that serves consumers and small businesses has driven the bulk of its profits in recent quarters.

Analysts have said the Scottsdale, Arizona-based company’s web hosting division generates profit margins well above 70 percent, compared with roughly half that amount at the domain business.

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