Green Dot Sees Strong Growth In First Earnings Report (GDOT)

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