Godaddy IncGoDaddy reported in-line revenue but shares fell 8.4% post-report, dragged down by sector-wide selloff on weak forward guidance.
E-commerce software stocks reported mixed first-quarter results, with aggregate revenues beating analyst consensus by 1.7% but next-quarter revenue guidance coming in 0.5% below expectations. GoDaddy posted revenue of $1.27 billion, up 6.1% year on year and in line with estimates, while Commerce exceeded expectations with $86.84 million in revenue, a 5.4% increase. Wix reported $541.2 million, up 14.3% and matching estimates, and Shopify led with $3.17 billion, a 34.3% jump that beat forecasts by 2.5%. Despite the beats, share prices across the group have fallen an average of 17.4% since reporting, with Wix down 44.5%, Shopify down 12.2%, GoDaddy down 8.4%, and Commerce down 4.7%.
Godaddy IncGoDaddy reported in-line revenue but shares fell 8.4% post-report, dragged down by sector-wide selloff on weak forward guidance.
Shopify IncShopify beat revenue estimates but shares fell 12.2% post-report, as sector-wide guidance miss and negative sentiment weighed.
Commerce.com, Inc.Commerce beat revenue estimates but shares fell 4.7% post-report, reflecting market disappointment with the sector's mixed results and weak guidance.
Wix.Com Ltd