GoDaddy Inc. (GDDY reported first-quarter 2020 adjusted earnings of 24 cents per share, beating the Zacks Consensus Estimate of 19 cents. Also, the bottom line was up 242.9% from the year-ago quarter.The company generated revenues of $792 million, up 11.5% year over year or 12.3% on a constant-currency (cc) basis. The reported figure surpassed the Zacks Consensus Estimate by 0.2%.The revenue growth was driven by strong performance of its product segments on a year-over-year basis.International revenues were $262.4 million in the first quarter, up 7.1% year over year or 9.1% on a cc basis.GoDaddy Inc Price, Consensus and EPS Surprise GoDaddy Inc price-consensus-eps-surprise-chart | GoDaddy Inc QuoteSegmental RevenuesGoDaddy generates revenues from three segments — Domains, Hosting and Presence, & Business Applications.Domains: The company generated revenues of $355.9 million (accounting for 45% of total revenues) from this segment. The figure improved 11.4% from the year-ago quarter on higher average selling price.Hosting and Presence: This segment generated revenues of $297.2 million (38% of revenues), increasing 10.5% on a year-over-year basis. The revenue growth can be primarily attributed to higher subscriptions to Websites and Marketing, along with managed WordPress offerings.Business Applications: Revenues from this segment came in at $138.9 million (17% of revenues), increasing 14.3% year over year.Operating MetricsGoDaddy uses total bookings as a performance measure, since payment is usually collected at the time of sale, and recognizes revenues ratably over the term of customer contracts. In the first quarter, total bookings of $951.1 million increased 9.3% year over year or 10.1% on a cc basis.Operating ResultsGross margin was 65%, down 170 basis points from the prior-year quarter.Operating expenses (technology and development, marketing and advertising, & general and administrative) of $313.1 million increased 1.9% year over year.Balance Sheet & Cash FlowAt the end of the first quarter, total cash and cash equivalents, along with short-term investments were $851.4 million compared with $1.09 billion in fourth-quarter 2019. Accounts and other receivables were $31.6 million compared with $30.2 million in the fourth quarter.Long-term debt was $18.4 billion at the end of the first quarter, flat sequentially.Net cash provided by operating activities was $233.3 million compared with $162.2 million in the fourth quarter. Capital expenditure was $13.5 million at first quarter-end.Additionally, adjusted free cash flow was $234.5 million during the reported quarter.GuidanceFor the second quarter, management expects revenues to be $790 million, indicating year-over-year growth of 7%. The Zacks Consensus Estimate for revenues is pegged at $784.94 million for the quarter.Segment wise, revenue growth is expected to be in high single digits in Domains, mid single digits in Hosting and presence, and mid teens in Business Applications.Zacks Rank and Stocks to ConsiderGoDaddy currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader technology sector include Akamai Technologies, Inc. AKAM, Inuvo, Inc. INUV and Shopify Inc. SHOP, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Long-term earnings growth for Akamai, Inuvo, and Shopify is currently projected at 12.3%, 30% and 25.8%, respectively.Biggest Tech Breakthrough in a GenerationBe among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.See 8 breakthrough stocks now>>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Akamai Technologies Inc (AKAM): Free Stock Analysis Report Inuvo Inc (INUV): Free Stock Analysis Report GoDaddy Inc (GDDY): Free Stock Analysis Report Shopify Inc (SHOP): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research