Green Dot Corp. 10% drop as profit and drop in revenue in the second quarter

(RTTNews) – Shares of financial technology and banking holding company Green Dot Corporation (GDOT) fell more than 10% on Friday morning despite reporting better-than-expected second-quarter results.

Net income for the second quarter decreased to $15.0 million or $0.27 per share from $24.9 million or $0.45 per share a year ago.

Excluding one-time items, earnings were $40.4 million or $0.74 per share

Revenue was $362.8 million for the second quarter, down from $369.4 million last year.

Analysts polled by Thomson Reuters on average had expected the company to report earnings of $0.55 per share on revenue of $356.84 million.

Looking forward to the full year, the company expects revenue to be between $1.394 billion and $1.430 billion and adjusted EPS between $2.35 and $2.49.

The consensus revenue estimate is $1.43 billion and the earnings estimate is $2.44 per share.

GDOT is currently at $24.09. It has traded between $22.27 and $54.90 over the past 52 weeks.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


Back to top button