GoDaddy (NYSE:GDDY) reported their first quarter earnings, Revenues up 12%; Operating Cash Flow up 17% and uFCF up 18%.

The stock is up in after hours trading -After hours 72.21 +2.21 (3.16%) during the day it was up 2%.

70.00 USD +1.38 (2.01%)

Here is a look at the full release:

SCOTTSDALE, Ariz., May 6, 2020 /PRNewswire/ — GoDaddy Inc. (NYSE: GDDY), the company that empowers everyday entrepreneurs, today reported financial results for the first quarter ended March 31, 2020.

“GoDaddy delivered strong results in the first quarter,” said GoDaddy CEO Aman Bhutani. “In this time of uncertainty for small businesses, we are laser-focused on innovating for our customers, as their digital presence is now more important than ever. We believe our focus on customer value remains the best way to create value for our shareholders as well.”

“First quarter results were strong despite the challenging macro environment,” said GoDaddy CFO Ray Winborne. “The durability of our business model and strength of our balance sheet position us well in times of uncertainty, allowing us to focus on helping customers navigate the complexity of the current reality.”

Consolidated First Quarter Financial Highlights
	Three months ended March 31,
	2020		2019		Change
	(in millions)
GAAP Results
Revenue	$	792.0		$	710.0		11.5%
Net cash provided by operating activities	$	233.3		$	199.7		16.8%
Non-GAAP Results
Unlevered free cash flow	$	234.5		$	198.8		18.0%
Operating Metric
Total bookings	$	951.1		$	870.5		9.3%

• Total revenue of $792.0 million, up 11.5% year over year, or 12.3% on a constant currency basis.
• Total bookings of $951.1 million, up 9.3% year over year, or 10.1% on a constant currency basis.
• Net cash provided by operating activities of $233.3 million, up 16.8% year over year.
• Unlevered free cash flow of $234.5 million, up 18.0% year over year.
• Domains revenue of $355.9 million, up 11.4% year over year.
• Hosting and presence revenue of $297.2 million, up 10.5% year over year.
• Business applications revenue of $138.9 million, up 14.3% year over year.
• International revenue of $262.4 million, up 7.1% year over year, or 9.1% on a constant currency basis.

Operating Highlights

• GoDaddy launched the #OpenWeStand initiative offering a number of free tools, widgets, resources and blogposts at OpenWeStand.org to help small businesses keep their digital doors open while their physical doors are closed. Over 50 companies have joined the cause, including American Express, Uber, Slack, Salesforce, PayPal, Nextdoor, GoFundMe, DoorDash, and more.
• GoDaddy announced the acquisition of the registry business of Neustar Inc. for $218.0 million in cash, with expected closing in the coming months. This acquisition will enable the Company to innovate at the domain registry level, giving more choice to customers at competitive price points.
• Relocated over 7,500 GoDaddy Guides to home offices to continue providing 24/7 assistance and sage guidance to our customers.
• GoDaddy quickly pivoted its Websites + Marketing platform to begin offering freemium subscriptions to help small businesses get started online for free during these challenging times.
• Websites + Marketing enabled and further enhanced additional integrations with GoFundMe and Paypal, as well as introduced virtual location appointment scheduling and gift card functionality.
• GoDaddy launched Open Exchange in Indonesia, Thailand, Portugal and Vietnam, furthering its international reach and enabling more customers access to affordable domain-based email solutions.
• Year-to-date through May 5, GoDaddy has repurchased 10 million shares of its common stock for an aggregate purchase price of $542 million for an average price per share of $54.25. These repurchases represent an approximately 6% reduction in fully diluted shares outstanding.

Balance Sheet

At March 31, 2020, total cash, cash equivalents were $851.4 million, total debt was $2,426.1 million and net debt was $1,574.7 million.

Share Repurchase

GoDaddy today announces that its Board of Directors has approved the repurchase of up to $500 million of the company’s Class A common stock. GoDaddy may purchase shares from time to time in open market purchases, block transactions and privately negotiated transactions, in accordance with applicable federal securities laws. The program has no time limit and may be modified, suspended or terminated by the company at any time without prior notice. The amount and timing of repurchases are subject to a variety of factors including liquidity, share price, market conditions and legal requirements.

Business Outlook

For the second quarter ending June 30, 2020, GoDaddy expects total revenue of approximately $790 million, or approximately 7% year over year growth, including our estimate of the net impact of the COVID-19 pandemic. Revenue growth by category is expected to approximate high single-digit growth in Domains, mid single-digit growth in Hosting and presence and mid-teens growth in Business Applications. We expect changes in customer behavior from COVID-19 will disproportionately impact the Hosting and presence category.