PayPal Cuts First-Quarter Revenue Outlook on Virus Impact
- Company says cross-border e-commerce activity has been curbed
- Stock little changed after already falling about 10% in a week
The Paypal Venmo app
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PayPal Holdings Inc. cut its forecast for revenue in the first quarter due to the continued impact of the coronavirus.
The payments operator said it expects revenue to be on the lower end of a previously forecast range of $4.78 billion to $4.84 billion. The company reaffirmed its outlook for adjusted earnings of 76 cents to 78 cents a share.