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Green Dot provides guidance for Q3, updates outlook for FY'19

Green Dot Corp. expects non-GAAP total operating revenues for the third quarter to be in the range of $225 million to $230 million.

Adjusted EBITDA for the quarter is anticipated to be between $12 million and $14 million. The company noted in a news release that this guidance includes a majority of the $60 million incremental marketing and technology investments allocated during the second half of 2019.

Third-quarter non-GAAP EPS is expected to be approximately 2 cents.

For full year 2019, Green Dot now expects non-GAAP total operating revenues to be between $1.06 billion and $1.08 billion, compared with its previous guidance of $1.11 billion to $1.13 billion.

Adjusted EBITDA for 2019 is expected to range from $240 million to $244 million, compared with the company's previous guidance of $255 million to $261 million.

Non-GAAP EPS for the full year is anticipated to be between $2.71 and $2.77. Green Dot previously expected full-year non-GAAP EPS to range from $2.82 to $2.91.

The S&P Global Market Intelligence consensus normalized EPS estimate for the third quarter is 33 cents. For full year 2019, the consensus normalized EPS estimate is $2.87.

For the second quarter, Green Dot reported non-GAAP total operating revenues of $265.0 million, adjusted EBITDA of $74.6 million and non-GAAP EPS of 90 cents.