PayPal Sees Negative Impact on 1Q Revenue From Coronavirus
February 27 2020 - 9:24AM
Dow Jones News
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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