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Green Dot Stock Gains 20% Despite Q2 Earnings Miss
Green Dot Corporation (NYSE: GDOT) reported mixed second-quarter 2024 results, with earnings missing the Zacks Consensus Estimate but revenues surpassing the same.
The stock has gained 19.8% since the earnings release on Aug 8 due to the raised revenue guidance.
For 2024, GDOT hiked its guidance for total operating revenues to $1.60-$1.70 billion from the $1.58-$1.62 billion provided at the end of the preceding quarter. The mid-point of the guided range ($1.65 billion) is higher than the Zacks Consensus Estimate of $1.62 billion.
Quarterly earnings per share (excluding 79 cents from non-recurring items) of 25 cents missed the consensus estimate by 10.7% and declined 32.4% from the year-ago quarter. Revenues of $402.6 million beat the Zacks Consensus Estimate by 8.5% and increased 10% on a year-over-year basis.
The company's shares have gained 20.4% in the past year, outperforming the 18.8% rally of the industry it belongs to.
Green Dot Corporation Price and EPS Surprise
Green Dot Corporation price-eps-surprise | Green ...