Why GreenSky Investors Saw Red Today

Shares of GreenSky (NASDAQ: GSKY) plunged 21.5% on Tuesday, following the release of the financial technology company's fourth quarter results.

GreenSky's revenue rose 22% year over year to $133.8 million, driven by an 11% increase in transaction fees to $100.7 million, and a 77% jump in servicing and other revenue, to $33.1 million.

However, higher costs led GreenSky's adjusted pro forma net income to fall nearly 5%, to $20.5 million, or $0.12 per share. That was below Wall Street's expectations for adjusted earnings per share of $0.13. 

Continue reading

Source Fool.com