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

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.

The virus, which has killed more than 2,700 and infected 78,000 people so far in China, has slammed the brakes on the world’s second-largest economy. It has spread to 44 other countries, raising fears of a global pandemic.