GoDaddy Q1 Loss Narrows

(RTTNews) - Web hosting firm GoDaddy Inc. (GDDY) reported a net loss for the first quarter of $43.4 million or $0.34 per share, compared to a net loss of $51.3 million or $0.40 per share for the year-ago quarter.

Revenue for the first quarter rose 17.5% to $376.3 million from $320.2 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.35 per share on revenue of $374.52 million for the first quarter. Analysts' estimates typically exclude special items.

Looking forward, the company forecasts revenue of $390 million to $395 million for the second quarter and $1.595 billion to $1.605 billion for the full year 2015. Analysts curently expect the company to post revenue of $390.66 million for the second quarter and $1.59 billion for the full year 2015.

GoDaddy priced the initial public offering of 23 million shares of its Class A common stock at $20 per share and began trading on the New York Stock Exchange on April 1.