GreenSky (NASDAQ:GSKY) earnings for the financial technology company’s fourth quarter of 2019 have GSKY stock falling hard after markets closed on Monday. This is due to its adjusted earnings per share (EPS) of 12 cents, missing Wall Street’s estimate of 13 cents. Its revenue of $133.84 million also didn’t reach analysts’ estimates of $135.6 million.
Now, let’s take a closer look at the most recent GreenSky earnings report.
- Adjusted EPS for the quarter is up 9.1% from 11 cents in the fourth quarter of 2018.
- Revenue comes in 21.97% higher than the $109.73 million reported during the same time last year.
- Operating income of $10.56 million is a 62.49% decrease year-over-year from $28.15 million.
- The GreenSky earnings report also includes a net income of $5.3 million.
- That’s a 76.81% drop from $22.85 million during the same period of the year prior.
David Zalik, chairman and CEO of GreenSky, said this about the GSKY stock earnings:
“In 2019, we facilitated approximately $6 billion of transaction volume, nearly $1 billion greater than in 2018, as we continued to expand our ecosystem of quality merchants and providers. Of note, credit performance in the fourth quarter was strong with continuing trends suggesting further improvement in fiscal 2020.”
GSKY leaders will be going over the most recent GreenSky earnings report in a conference all. This call will take place on Tuesday at 8:00 a.m. Eastern Time on March 3. It will be accessible via a live webcast on the company’s investor relations website.
GSKY stock was down nearly 5% Monday, while the stock ended the trading day down nearly 1.4%.
As of this writing, William White did not hold a position in any of the aforementioned securities.
