PYPL PayPal Holdings Inc

By Chris Wack

PayPal Holdings Inc. said Thursday that international cross-border e-commerce activity has been negatively affected by the coronavirus epidemic.

The digital payment company estimates about a one-percentage-point reduction to its year-over-year revenue growth for the first quarter as a result of the epidemic.

PayPal said stronger performance quarter-to-date across its businesses is partially offsetting this negative impact, but it now expects to report first-quarter revenue toward the lower end of its previously guided range of $4.78 billion to $4.84 billion.

The company reaffirmed its first-quarter earnings of 16 cents to 21 cents a share, and its adjusted earnings of 76 cents to 78 cents a share.

PayPal shares were down 3% to $106.20 in premarket trading.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

February 27, 2020 09:09 ET (14:09 GMT)

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