Market research firm eMarketer cut its forecast for Facebook’s revenue by no less than $1 billion in a press release published on Thursday. eMarketer expects Facebook to generate $5.04 billion in 2012, down $1 billion from its February forecast of $6.1 billion.
The downgrade is a reaction to Facebook’s disappointing revenue growth in the first two quarters of 2012 and comes at a time when bad news for the social network are in no short supply. Facebook has yet to find a way to monetize its growing mobile audience and the company’s stock price has tumbled ever since the social network went public in May.
Analysts Cut Revenue Forecast for Facebook
Description
This chart shows Facebook's revenue from 2009 through 2013. The values for 2012 and 2013 represents eMarketer estimates.
