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Tucows and GoDaddy see weakness in big-ticket aftermarket sales
Kevin Murphy,
May 9, 2023, 15:28:55 (UTC),
Domain Registrars
Two of the industry’s largest registrars saw weakness in their first-quarter revenues which they attributed largely to a lack of high-priced secondary market sales.
This lumpier and less-predictable side of the market saw Tucows overall domains revenue down 4% in the period, while GoDaddy saw its “core platform” revenue down a million bucks or 0.2%.
GoDaddy said a 5% increase in domains revenue was “offset by tough compares for our aftermarket business as well as the continued uneven flow of large transactions.”
Tucows said it has “experienced a weaker aftermarket for domain sales, most notably at the higher end of the price range”.
GoDaddy’s core services revenue was down to $698 million from $699.6 million a year ago. Overall revenue was $1.036 billion, up 3.3%. Its net income was down 30% at $47.4 million.
Tucows’ overall revenue was down 0.8% at $80.4 million, with a net loss of $19.1 million compared to a loss of $3 million a year ago.
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