- Mastercard (NYSE:MA) is warning of a revenue growth slowdown as it measures the potential impact of the COVID-19 virus.
- Shares are down 1.5% after hours.
- Business fundamentals are strong, it says, "as our switched volume and switched transaction growth remain in-line with our expectations.
- "However, cross-border travel, and to a lesser extent cross-border e-commerce growth, is being impacted by the Coronavirus," the company says in its statement.
- If recent trends continue through quarter's end, it expects net revenue growth of 9-10% (2-3 percentage points lower than discussed on its Jan. 29 earnings call).
- "If the impact is limited to the first quarter only, we expect that our 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, excluding acquisitions," Mastercard says.