Green Dot Q3 profit beats Street, gives upbeat FY view

UPDATE 2-Green Dot Q3 profit beats Street, gives upbeat FY view Reuters
Prepaid debit card company Green Dot Corp (GDOT.N) reported a third-quarter profit that topped Wall Street estimates, boosted by a rise in card and interchange revenue, and forecast an 80 percent increase in gross dollar volume for 2010.

The top player in the prepaid debit card space also said it expects adjusted total operating revenue of $370 million and $380 million for the full year.
Full-year revenue should come in at the top end of that guidance, analyst John Kraft of DA Davidson said.

Companies like Green Dot and rival NetSpend (NTSP.O) -- which went public in July and October, respectively -- sell their cards to low-income consumers who rely heavily on cash and do not have much access to credit.