Mastercard Warns Of Coronavirus Impact On Q1, 2020 Revenue; Stock Down

(RTTNews) - Mastercard Inc (MA) warned Monday that the coronavirus could hurt its first-quarter and 2020 revenue.

MA closed regular trading at $324.67, down $15.03 or 4.42 percent. In the after-hours trade, the stock further dropped $4.68 or 1.44 percent.

The company expects year-over-year net revenue growth in the first quarter to be about 2-3 percentage points lower than its prior outlook, if the coronavirus outbreak continue through the end of the quarter.

The credit card issuer now projects revenue growth to be between 9% and 10% in the first-quarter on a currency-neutral basis as the virus impacts travel and e-commerce across borders.

The company also expects that 2020 annual year-over-year net revenue growth rate would be at the low end of the low-teens range, on a currency-neutral basis, if the impact of the virus is limited to the first quarter only.