EBay forecasts fourth-quarter results below estimates on weak consumer spending

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(Reuters) – Ebay forecast fourth-quarter revenue and profit below Wall Street estimates on Tuesday and joined other e-commerce platforms in sounding the alarm on weaker-than-expected consumer spending. San Jose, California-based eBay’s shares were down about 6.8% in trading after the bell. High interest rates and stubborn inflation across major economies in Europe as well as in the United States have further eaten into consumers’ discretionary budgets. Rising competition from the likes of Amazon, that sells a lot of consumer staples, has amplified eBay’s woes. “We’ve observed softening consume…

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