Coronavirus outbreak: After Mastercard, now PayPal expects a revenue hit

Topics PayPal | Mastercard | Visa

Payments processor PayPal Holdings Inc said on Thursday it expects first-quarter revenue to be at the lower end of its previously forecast range, blaming disruptions caused by the coronavirus outbreak and sending its shares down 1.5%.

"We currently estimate the negative impact from COVID-19 to be an approximate one percentage point reduction, to PayPal's year-over-year revenue growth for the first quarter," the company said in a statement. ALSO READ: Coronavirus LIVE: Global GDP to fall by $250 bn, says industry.

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