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SAN JOSE — EBay Inc. expects its fourth-quarter earnings to drop, citing upcoming acquisitions and plans to cut 10 percent of its workforce.
On Wednesday, eBay predicted a fourth-quarter profit of 25 cents to 27 cents per share. The company earned 39 cents per share in the fourth quarter of 2007.
Excluding items, eBay expects to earn 39 cents to 41 cents per share. On this basis, analysts polled by Thomson Reuters had anticipated a profit of 47 cents per share.
The company also sees its revenue dipping, as it predicted $2.02 to $2.17 billion in revenue. EBay's revenue totaled $2.18 billion in the year-ago quarter.
Analysts were expecting $2.43 billion in revenue.
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