GoDaddy (GDDY) - Get Report shares were falling 9% Friday, as investors absorbed an earnings miss and the pending departure of CEO Scott Wagner, who said Thursday he was stepping down for health reason.
Wagner, who ran the Scottsdale, Ariz., website-services company for eight years, on Sept. 4 will be succeeded by Aman Bhutani, president of Brand Expedia Group, parent of travel sites including its namesake as well as Travelocity, Orbitz and others.
GoDaddy on Thursday also reported second-quarter earnings. Revenue met the Zacks consensus estimate while earnings missed the consensus.
Earnings adjusted for non-recurring items were 13 cents a share vs. the 17-cent Zacks estimate and 11 cents a share a year earlier.
Revenue came to $737.2 million, beating the estimate by 0.3% and exceeding the year-ago $651.6 million.
The shares were off at $67.53.