Domain name registrar GoDaddy tightens its annual revenue forecast
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((Automated translation by Reuters using machine learning and generative AI, please refer to the following disclaimer: https://bit.ly/rtrsauto)) GoDaddy GDDY.N tightened its annual revenue forecast and broadly met second-quarter estimates on Thursday, amid slower adoption of AI tools and lower customer acquisition. Here are some details: * GoDaddy has heavily invested in AI tools designed to help small and medium-sized businesses create and automate their websites. * The Tempe, Arizona-based company forecasts annual revenue between $5.215 billion and $5.255 billion, compared to a previously announced range of $5.195 billion to $5.275 billion. * GoDaddy faces strong competition from companies such as Wix WIX.O, which has aggressively developed its own AI-powered website building tools. * Second-quarter revenue was $1.298 billion, while analysts expected $1.295 billion, according to data compiled by LSEG. * Third-quarter revenue is expected to be between $1.32 billion and $1.34 billion, which is in line with estimates. * GoDaddy's 'Airo.ai' platform, which helps users create logos, websites, and branded marketing materials from the client's existing database, has expanded rapidly since its launch last year. * 'GoDaddy is leading a business transformation around AI, with Airo at the heart of this strategy, to create an autonomous operating system that helps our customers go...
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