GreenSky results: GSKY shares cross 5% lower on Q4 Miss

<p>GreenSky (NASDAQ: GSKY) results for the financial technology company’s fourth quarter of 2019, GSKY shares have fallen sharply after the markets closed on Monday. This is due to its adjusted earnings per share (EPS) of 12 cents, and the Wall Street estimate of 13 cents is missing. Its $ 133.84 million revenue also did not reach analysts’ estimates of $ 135.6 million.

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Let’s take a closer look at the latest GreenSky performance report.

Adjusted earnings for the quarter increased by 9.1% from 11 cents during the fourth quarter of 2018. Revenue was 21.97% higher than the $ 109.73 million reported during the same period last year. Operating profit of $ 10.56 million is a decrease of 62.49% compared to the same period last year from $ 28.15 million. The GreenSky earnings report also includes a net income of $ 5.3 million. That is a decrease of 76.81% from $ 22.85 million during the same period last year.

David Zalik, Chairman and CEO of GreenSky, said this about GSKY share income:

“In 2019, we facilitated approximately $ 6 billion in transaction volume, almost $ 1 billion greater than in 2018, as we continued to expand our ecosystem of quality retailers and suppliers. Note that credit development during the fourth quarter was strong with continued trends indicating further improvements during the 2020 financial year. ”

GSKY leaders will review the latest GreenSky performance report during a conference. This call will take place on Tuesday at 8:00 Eastern Time on March 3. It will be available via a live webcast on the company’s investor relations website.

The GSKY share fell almost 5% on Monday, while the share ended the trading day by almost 1.4%.

At the time of writing, William White had no position in any of the above securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/03/greensky-earnings-boost-gsky-stock/.

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