Q: On GSY earnings . Revenue was up 10% and yet profit " fell " ..... As GSY's business model is pretty simple { earnings based on interest charged on the amount lent } Could 5i explain how if more money was taken in { revenue } how it is possible for profit to fall ? ..... It's kind of like a bank saying it lent 10% more money but somehow we lost money { profit } .... Thanks for your terrific service ......
5i Research Answer:
GSY had about $34M in more revenue versus the prior year period, but bad debt expenses rose $26M...