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2 Months : From Feb 2020 to Apr 2020
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.
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(END) Dow Jones Newswires
February 27, 2020 09:09 ET (14:09 GMT)
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