Green Dot says net income was flat in 2nd-quarter

Green Dot says net income was flat in 2nd-quarter - Forbes.com
Green Dot Corp., a prepaid debit card provider, said Thursday its second-quarter net income was flat as higher revenue was offset by higher costs.

Net income was nearly flat at $12.5 million, or 32 cents per share, from $12.5 million, or 33 cents per share last year. The company had more shares outstanding in the year-ago period. Revenue rose 44 percent to $90.3 million from $62.9 million last year.

The company, which went public in July, said the number of reloadable debit cards activated during the quarter rose 67 percent to 1.5 million. The number of active cards at quarter's end rose 60 percent to 3.2 million.