Green Dot tops Street 2Q forecasts

PASADENA, Calif. (AP) _ Green Dot Corp. (GDOT) on Thursday reported second-quarter earnings of $ 8 million.

On a per-share basis, the Pasadena, California-based company said it had profit of 16 cents. Earnings, adjusted for one-time gains and costs, were 27 cents per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.

The bank holding company posted revenue of $ 173.5 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $ 169.1 million.

For the current quarter ending in October, Green Dot expects its per-share earnings to be 16 cents.

The company said it expects revenue in the range of $ 152 million for the fiscal third quarter.

Green Dot expects full-year earnings in the range of $ 1.39 to $ 1.44 per share, with revenue ranging from $ 707.6 million to $ 712.6 million.

Green Dot shares have risen 44 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $ 23.66, a climb of 15 percent in the last 12 months.

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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 http://www.zacks.com/ap/GDOT

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Keywords: Green Dot, Earnings Report

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