Domain registrar GoDaddy narrows annual revenue forecast

GoDaddy's "Airo.ai" platform, which helps users create logos, websites and branded marketing assets using customer's existing database, has expanded rapidly after being launched last year.

"GoDaddy is advancing a company-wide AI transformation with Airo at the center, creating an agentic operating system that helps our customers accomplish more," CEO Aman Bhutani said.

July 30 (Reuters) - GoDaddy GDDY.N narrowed its annual revenue forecast and largely met second-quarter estimates on Thursday, amid slower adoption of AI tools and weaker customer acquisition.

Here are some details:

• GoDaddy has heavily invested in AI tools to help small and medium-sized businesses build and automate their websites.
• The Tempe, Arizona-based company expects full-year revenue to be between $5.215 billion and $5.255 billion, compared with $5.195 billion to $5.275 billion forecast earlier.
• GoDaddy faces strong competition from companies such as Wix WIX.O, which has aggressively expanded its own AI-powered website-building tools.
• Second-quarter revenue came in at $1.298 billion, while analysts estimated $1.295 billion, according to data compiled by LSEG.
• Third-quarter revenue is expected in the range of $1.32 billion to $1.34 billion, in line with the estimate.