|13:38 EDT||FB||eMarketer reduces estimate for 2012 Facebook ad revenue to $4.23B|
eMarketer, which publishes data, analysis and insights on digital marketing, media and commerce, reduced its forecast of Facebook's ad revenue in 2012 to $4.23B, after predicting in February that ad revenues at Facebook would reach $5B this year. The research firm said, "underperformance throughout the first half of 2012, along with questions about the effectiveness of some of the site’s ad products, have led to a downward revision of close to $1B." eMarketer expects Facebook's total revenue to be $5.042B, though earlier this year the firm predicted the social networker’s total revenues would surpass $6B. eMarketer sees revenue increases in the double digits to continue through 2014, when Facebook’s worldwide ad revenues will reach $6.81B, it said. Consensus for Facebook's FY12 revenue is 4.93B, according to First Call.