SAN FRANCISCO—Visa has become 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, Bloomberg reported.
Visa joins Mastercard and PayPal in warning investors about how the spread of coronavirus might impact their business. Mastercard said last month it's knocking two to three percentage points off an earlier forecast, which translates to revenue growth of 9% to 10% on a currency-neutral basis, excluding acquisitions, Bloomberg said.