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Market Movers

EBay offers a weak fourth-quarter outlook

CEO John Donahoe said the US shutdown is partly to blame, having unnerved consumers.

Reuters/File 2012

CEO John Donahoe said the US shutdown is partly to blame, having unnerved consumers.

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EBay Inc. said the growth rate of e-commerce is slowing as it delivered a weaker-than-
expected profit and revenue outlook. Third-quarter earnings edged past expectations, but revenue rose just short of estimates. Another challenge: A weaker dollar hurts overseas transactions. Annual profit and revenue will be at the low end of eBay’s outlook, it said. For the current quarter, it sees earnings of 79 to 81 cents per share, below the 83 cents that analysts were looking for.

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