Green Dot net profit falls 5 pct
April 30 (Reuters) - Prepaid debit card company Green Dot Corp reported a 5 percent fall in first-quarter net income as compensation and benefit expenses rose.
Net income fell to $15.6 million, or 35 cents per share, from $16.4 million, or 37 cents per share, a year earlier.
Green Dot's biggest threat is American Express Co, which teamed up with Wal-Mart -- Green Dot's largest retail distributor -- in October to introduce a prepaid debit card called Bluebird to target lower-income shoppers who may not have bank accounts.
- U.S.' Kerry voices 'regret' to India over diplomat case |
- Washington, DC city council raises minimum wage to $11.50/hr in 2016
- China confirms near miss with U.S. ship in South China Sea
- Medical bills underlie 60 percent of U.S. bankrupts: study
- Mega Millions winning lottery tickets sold in California, Georgia |