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Mastercard warns COVID-19 impact on Q1 revenue, expenses

Mastercard said the COVID-19 outbreak was causing further deterioration of its cross-border and other aspects of business, which will impact revenue and expenses. 

The card payments company said first-quarter revenue growth will now be in the low single digits and sees a 2% impact on revenue growth due to shifts in foreign exchange rates, according to a company press release.

The company will also have low-to-mid-single-digit growth in operating expenses and is taking steps to better manage its travel & entertainment, advertising & marketing and professional fees during the quarter.