Shares of Green Dot Corp. (GDOT) plummeted over 6% in after-hours trading on Tuesday after the financial technology company reported mixed third-quarter results.
For the quarter ended September 30, 2024, Green Dot posted adjusted earnings per share of $0.13, missing analysts' consensus estimate of $0.17 by a wide margin of 23.5%. The earnings miss was a disappointment for investors, causing the stock to sell off sharply in extended trading.
However, the company's top line fared better, with revenue of $406 million surpassing Wall Street's expectations of $392.6 million. Green Dot's revenue grew 16.5% year-over-year, driven by strength across its various business segments.
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