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.
Square (NYSE:SQ)
Historical Stock Chart
From Apr 2020 to May 2020 Click Here for more Square Charts.
Square (NYSE:SQ)
Historical Stock Chart
From May 2019 to May 2020 Click Here for more Square Charts.