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Friday, August 31, 2012

Facebook gloomy days aren't over yet

Facebook Inc.’s (NASDAQ:FB) harsh days aren’t over yet as the social networking tycoon is predicted to report sluggish revenue in 2012 that will be missing experts targets by $1 billion, according to an industry research group on Thursday.

Facebook (FB) is expected to announce revenue of $5.04 billion, which was 36% higher from the last year same quarter, as per reported by eMarketer which had previously estimated revenue of above $6 billion.

Facebook’s revenue from ads is predicted to enhance 34% year-over-year to $4.2 billion in 2012, eMarketer stated.

The group had estimated ad revenues of almost $5 billion in the present year, but underperformance all the way through the initial half of 2012, together with questions regarding the efficiency of some of the site’s ad products, have led to the descending revision.

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