Mastercard Updates Q1 Guidance, Withdraws 2020 Outlook
Mastercard (NYSE: MA) joins the growing ranks of companies trimming, or even withdrawing, their guidance in the face of the COVID-19 coronavirus threat.
On Tuesday, the company said it believes it will post year-over-year net revenue growth in the low single-digit percentages for its current Q1 of fiscal 2020, and land roughly 1% to 3% below its former guidance for the quarter. Meanwhile, operating expenses are anticipated to rise in the low- to mid-single digit percentages.
As for the entirety of the fiscal year, the card giant is withdrawing its guidance entirely. It previously forecast revenue would grow in the low teen percentage range, with operating expenses rising in the high single digits.
Source Fool.com