Visa Joins Mastercard in Cutting Revenue Outlook on Virus Impact
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Visa Inc. became the latest payments firm to face a hit from the spread of coronavirus.
The company warned that cardholders’ spending overseas has slowed sharply, especially for travel related purchases, and that this quarter’s revenue growth will be about 2.5 to 3.5 percentage points lower than the outlook it shared on Jan. 30. Visa said it won’t give a forecast for future quarters until its earnings call in April.