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Coronavirus outbreak: After Mastercard, now PayPal expects a revenue hit

"We currently estimate the negative impact from COVID-19 to be an approximate one percentage point reduction, to PayPal's year-over-year revenue growth for the first quarter," the company said in a s

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The company, which had forecast first-quarter revenue of $4.78 billion-$4.84 billion last month, said the global spread of the virus had affected international cross-border e-commerce activity.

Reuters

2 min read Last Updated : Feb 27 2020 | 8:06 PM IST

Payments processor PayPal Holdings Inc said on Thursday it expects first-quarter revenue to be at the lower end of its previously forecast range, blaming disruptions caused by the coronavirus outbreak and sending its shares down 1.5%.

"We currently estimate the negative impact from COVID-19 to be an approximate one percentage point reduction, to PayPal's year-over-year revenue growth for the first quarter," the company said in a statement.

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The virus, which has killed more than 2,700 and infected 78,000 people so far in China,

Topics : Coronavirus PayPal Mastercard Visa