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Endurance also got a lockdown bump in Q2
Kevin Murphy,
July 16, 2020, 10:12:05 (UTC),
Domain Registrars
Endurance International Group added its name to the list of registrars to see a lift from the coronavirus pandemic in the second quarter.
The company, which counts brands including Domain.com, BuyDomains and ResellerClub in its stable, this week upgraded its guidance for Q2.
Endurance said it added roughly 97,000 net subscribers in the quarter, compared to a loss of 13,000 in Q2 2019.
It expects revenue to be $274 million compared to an analyst consensus of $271.25 million, and adjusted EBITDA of about $84 million compared to the $76.3 million reported a year ago.
Cash bookings, perhaps a better indicator of actual sales during the quarter were up 5% year over year at $281.6 million.
Unlike other registrars and registries that have reported a lockdown bump, Endurance suggested that it performed well in spite of, rather than because of, the pandemic. In a statement, CEO Jeffrey Fox said:
As we entered the second quarter, the healthcare and economic uncertainties brought on by COVID-19 were impacting global businesses, including the millions of small businesses we serve. Despite these challenges, we remain focused on delivering value to our customers as they navigate this complex environment.
Endurance will report its Q2 results July 30.
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