Visa Reports Sudden Declines in Payments, Reduces Q2 Guidance Again
Since it works on the front lines of the global economy, Visa (NYSE: V) is being negatively affected by the slowdown related to the worldwide SARS-CoV-2 coronavirus outbreak. On Monday, in a regulatory filing made after market hours, the card payments giant reported a discouraging set of metrics, and adjusted its guidance accordingly.
For the month of March so far (specifically March 1 to March 28), the company's payments volume declined by 4% in the U.S. and fell a steep 19% in the cross-border segment. By comparison, in the quarter to date (specifically Jan. 1 to March 28), those figures are 7% and 0%, respectively.
All told, the number of processed transactions fell by 2% month-to-date in March, while still in the black at a 9% clip quarter-to-date.
Source Fool.com
