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3/2, 11:33 PM (Source: TeleTrader)
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Visa+0.87%

197.25
Chart for: Visa Inc.

Visa cutting outlook due to coronavirus

Visa Inc. announced on Monday it was cutting its revenue growth outlook for the second quarter due to the impact of the coronavirus outbreak.

"The most significant impact has been on travel to and from Asia. This has resulted in a sharp slowdown of our cross-border business, in particular travel-related spending," the company said, adding the "deteriorating trend has not bottomed out yet."

The outlook has been reduced by 2.5 to 3.5 percentage points.

Breaking the News / MD