Green Dot Sees Strong Growth In First Earnings Report (GDOT)
Green Dot Corporation (NYSE: GDOT) just reported its first earnings report as a public company. The prepaid financial services company reported a 48% jump up in Non-GAAP operating revenues to $92.8 million, followed by a 20% gain in non-GAAP income…
The company has now issued well over 12 million general purpose reloadable card accounts since our founding. Here were the remaining stats:
- General purpose reloadable debit cards activated was 1.5 million, up 67%.
- Cash transfers was 6.4 million, up 56%.
- Active cards was 3.2 million, up 60%.
- Gross dollar volume was $2.4 billion, up 77%.
Unfortunately, there are no estimates available yet as the quiet period is still ongoing. Shares closed down 0.79% at $46.56 on only 59,000 shares. Not bad considering the IPO priced at $36.00 just last month, above the range indicated of $32.00 to $35.00.
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
