Green Dot Corporation (NYSE:GDOT) stock was flying high on Thursday following the release of its earnings report for the first quarter of 2018.
During the first quarter of the year, Green Dot Corporation reported earnings per share of $1.40. This is an increase over the company’s earnings per share of $1.00 from the first quarter of 2017. It was also a blessing to GDOT stock by coming in above Wall Street’s earnings per share estimate of $1.29 for the period.
Green Dot Corporation’s net income reported in the first quarter of 2018 was $70.03 million. The banking technology company’s net income reported for the same period of the year prior came in at $40.75 million.
Income from operations reported by Green Dot Corporation for the first quarter of the year was $76.38 million. This is better than its income from operations of $61.38 million reported in the same quarter of the previous year.
Green Dot Corporation also reported revenue of $315.00 million for the first quarter of 2018. This is an improvement over its revenue of $253.00 million that was reported in the same time last year. It is also good news for GDOT stock by coming in above analysts’ revenue estimate of $297.36 million for the quarter.
The recent earnings report from Green Dot Corporation also includes an update to its 2018 outlook. The company is now expecting earnings per share to range from $2.93 and $3.00. It’s prior estimate had earnings per share for 2018 coming in at $2.81 and $2.88. Wall Street is looking for earnings per share of $2.87 for the year.
As far as 2018 revenue goes, Green Dot Corporation now expects it to range from $1.00 billion to $1.01 billion. The previous guidance was for revenue between $982 million and $997 million. Analysts are estimating revenue of $999.27 million for the year.
GDOT stock was up 15% as of noon Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.