Green Dot continues on a roll with gross dollar volume soaring by 10.9% year-on-year (YOY).Total operating revenues on a generally accepted accounting principles (GAAP) basis increased 16% to $170.2 million for the second quarter of 2015 from $147.0 million for the second quarter of 2014
For the second quarter of 2015, Green Dot reported growth of 16% and 15% year-over-year in consolidated GAAP and non-GAAP total operating revenues1 to $170.2 million and $170.8 million, respectively, and a decrease of 6% in adjusted EBITDA to $34.2 million. Green Dot also reported $0.06 in GAAP diluted earnings per share and $0.28 in non-GAAP diluted earnings per share1, representing an 81% and 32% year-over-year decrease, respectively.
Non-GAAP net income decreased 21% to $14.8 million for the second quarter of 2015 from $18.8 million for the second quarter of 2014; Non-GAAP diluted earnings per share1 decreased 32% to $0.28 for the second quarter of 2015 versus $0.41 for the second quarter of 2014 and adjusted EBITDA1 decreased 6% to $34.2 million, or 20% of non-GAAP total operating revenues1 for the second quarter of 2015 from $36.4 million, or 24% of non-GAAP total operating revenues1 for the second quarter of 2014
The Company says despite absorbing eight months of the new Walmart commission rates and the lower than forecast revenue for the full year, they still expect to be within their originally guided adjusted EBITDA and non-GAAP EPS ranges, albeit at the lower end. As such, Green Dot is refining our guidance to bring down our revenue range while narrowing our adjusted EBITDA and non-GAAP EPS ranges to reflect its latest information
GROSS DOLLAR VOLUME
2Q/14: $4.7 billion
3Q/14: $4.6 billion
4Q/14: $5.1 billion
1Q/15: $6.4 billion
2Q/15: $5.3 billion
Source: Green Dot; CardData
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