Published on 5 Jan 2024 on Zacks via Yahoo Finance
Green Dot Corporation GDOT is currently benefiting from strength in its GO2bank business and long-standing relationship with Walmart. Recent platform conversions have positioned the company for annualized cost savings.
Future Potential Should Outperform Current Headwinds
Green Dot’s bottom line stayed weak in the third quarter of 2023 due to revenue softness, higher expenses and losses associated with customer disputes. We expect the company’s bottom line to gain strength going forward, driven by cost savings from platform conversions completed recently and investments in product, business development and compliance infrastructure. The company currently targets an annualized cost savings of $35 million.