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Green Dot: 2Q Earnings Snapshot

PASADENA, Calif. (AP) _ Green Dot Corp. (GDOT) on Wednesday reported second-quarter earnings of $34.7 million.

The Pasadena, California-based company said it had profit of 64 cents per share. Earnings, adjusted for one-time gains and costs, came to 90 cents per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.

The bank holding company posted revenue of $278.3 million in the period. Its adjusted revenue was $265 million, which also topped Street forecasts. Five analysts surveyed by Zacks expected $261.2 million.

For the current quarter ending in October, Green Dot expects its per-share earnings to be 2 cents.

The company said it expects revenue in the range of $225 million to $230 million for the fiscal third quarter.

Green Dot expects full-year earnings in the range of $2.71 to $2.77 per share, with revenue ranging from $1.06 billion to $1.08 billion.

Green Dot shares have dropped 41% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $47.26, a drop of 41% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GDOT at https://www.zacks.com/ap/GDOT