Boston, MA 08/04/2014 (wallstreetpr) – Green Dot Corporation (NYSE:GDOT) shares jumped by nearly 10% to $19.70, following the day of its second-quarter accounts, which exceeded the Wall Street consensus estimates.
As per the released reports, Green Dot recorded $147 million of total operating revenues and $0.31 per share of diluted earnings, as against the diluted earnings per share of $0.25 on income of $140.6 million in the second quarter of 2013. If non-GAAP basis is taken into consideration, then the company reported 5% growth in its revenues to $149 million with earnings of $0.41 per share, in comparison to $142.6 million and $0.33 earnings in the previous year’s quarter, marking an increase of 24% in earnings year-over-year.
Revenue Guidance Same; EBITDA Revised Higher
Green Dot Corporation (NYSE:GDOT) has also revised its adjusted EBITDA guidance for the year with midpoint 12% higher than the earlier guidance. As per the revised guidance, Green Dot anticipates adjusted EBITDA to be in the range of $128 million to $132 million for the full year, while it expects non-GAAP diluted earnings per share to come in the range of $1.37-$1.41 for the year. However, the revenue guidance on the basis of non-GAAP is kept unchanged in between $640-$650 million for the financial year.
Three Key Factors
Green Dot Corporation (NYSE:GDOT)’s Chairman and Chief Executive Officer, Steve Streit said that the second quarter came in better-than-expected on account of three main factors which drove its business and the company expects to sustain the same performance over the longer term. Firstly, Streit said, that the Green Dot brand saw an outperformance during the period. Secondly, there was a solid customer usage metric, observed for all of its portfolios that in turn, helped revenues and margins to grow per active card. Lastly, the investments made into operational excellence has started yielding results with better efficiencies in supply chain, risk management and technology development.
