Equifax warns data breach will harm future sales

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(Reuters) – Equifax Inc on Friday warned that this year’s massive data breach will harm future sales, saying it will reduce revenue in the current fourth quarter by 3 percent to 4 percent.

Credit reporting company Equifax Inc. corporate offices are pictured in Atlanta, Georgia, U.S., September 8, 2017. REUTERS/Tami Chappell

Chief Financial Officer John Gamble said in an analyst conference call that businesses and governments had delayed signing new contracts in the third quarter.

While that did not have a meaningful impact on results during that period, he expects the trend to reduce revenue growth and margins in the current quarter.

He said that the company’s consumer business would also be “negatively affected” in the fourth quarter.

Reporting by Jim Finkle in Toronto and Aparajita Saxena in Bengalaru; Editing by Meredith Mazzilli

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