PayPal Holdings Inc. expects the coronavirus to have a negative revenue impact of 1 percentage point for the March quarter, the company disclosed in a release Thursday morning. PayPal currently expects revenue for the quarter to fall toward the low end of its previously issued forecast of $4.78 billion to $4.84 billion. "Stronger performance quarter-to-date across our diversified business is partially offsetting this one percentage point negative impact," PayPal said in its release. The company left its earnings outlook unchanged. Fellow payments giant Mastercard Inc. lowered its forecast earlier this week, while Square Inc. said Wednesday that it didn't expect a "material impact" in the first quarter as a result of the outbreak. PayPal shares are off 1% in premarket trading Thursday, and they've lost 5.3% over the past month as the S&P 500 has dropped 3.9%. Read More...
PayPal Holdings Inc. expects the coronavirus to have a negative revenue impact of 1 percentage point for the March quarter, the company disclosed in a release Thursday morning. PayPal currently expects revenue for the quarter to fall toward the low end of its previously issued forecast of $4.78 billion to $4.84 billion. “Stronger performance quarter-to-date across our diversified business is partially offsetting this one percentage point negative impact,” PayPal said in its release. The company left its earnings outlook unchanged. Fellow payments giant Mastercard Inc. lowered its forecast earlier this week, while Square Inc. said Wednesday that it didn’t expect a “material impact” in the first quarter as a result of the outbreak. PayPal shares are off 1% in premarket trading Thursday, and they’ve lost 5.3% over the past month as the S&P 500 has dropped 3.9%.
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