Green Dot adjusted profit tops estimates

Thu Nov 1, 2012 4:27pm EDT

Nov 1 (Reuters) - Prepaid card company Green Dot Corp posted a higher-than-expected adjusted quarterly profit, driven by a rise in card revenue, and it backed its forecast for the year.

Third-quarter net income fell to $10.6 million, or 24 cents per share, from $13.3 million, or 30 cents per share, last year.

Excluding items, the company reported earnings of 29 cents a share.

Total operating revenue rose 16 percent to $134.3 million.

Analysts had expected earnings of 25 cents per share on revenue of $126.9 million, according to Thomson Reuters I/B/E/S.

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