Square Withdraws Annual Financial Guidance, Citing Impact From Coronavirus Pandemic
March 24 2020 - 4:58PM
Dow Jones News
By Maria Armental
Financial-tech company Square Inc. on Tuesday called off
financial projections for the year and warned that its financial
performance for the March quarter would fall short, citing business
disruption from the fast spreading coronavirus outbreak.
The company said it now expects to report about $1.30 billion to
$1.34 billion in revenue for the quarter, compared with the $1.34
billion to $1.36 billion in revenue it had projected last month,
when it reported fourth-quarter results.
Square, which had adjusted earnings guidance this month, on
Tuesday didn't update those projections beyond saying that it
expected those figures to fall short of the March 5 update.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
March 24, 2020 16:43 ET (20:43 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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