Green Dot lowers profit forecast on higher operating costs
Sept 18 (Reuters) - Debit card provider Green Dot Corp said it was lowering its full-year profit outlook due to increased operating costs related to its acquisition of Santa Barbara Tax Products Group.
Green Dot said it would buy the consumer tax refund transaction processor for about $320 million in cash and stock.
The company cut its earnings forecast to $1.25-$1.29 per share from $1.37-$1.41.
Analysts on average were expecting earnings of $1.42 per share, according to Thomson Reuters I/B/E/S.
(Reporting by Avik Das in Bangalore; Editing by Maju Samuel)
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