PayPal Sees Negative Impact on 1Q Revenue From Coronavirus

Date : 02/27/2020 @ 2:24PM
Source : Dow Jones News
Stock : PayPal Holdings Inc (PYPL)
Quote : 101.67  0.0 (0.00%) @ 12:27PM
Pre-Market
Last Trade
Last $ 105.00 ▲ 3.33 (3.28%)

PayPal Sees Negative Impact on 1Q Revenue From Coronavirus

PayPal (NASDAQ:PYPL)
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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)

Copyright (c) 2020 Dow Jones & Company, Inc.

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