Originally posted on VentureBeat:

In yet another financial PR blow, Facebook’s revenue estimates from analysts at eMarketer have dropped to around $5 billion for 2012. Previously, the firm forecast revenues of $6 billion for the year.

In its first-ever earnings call last month, the social network posted $1.18 billion in revenue for the second quarter of 2012.

“In February, eMarketer predicted that Facebook’s total revenues would surpass $6 billion this year, but after the company underperformed market expectations in both Q1 and Q2, eMarketer’s forecast—an analysis of hundreds of data sets on Facebook ad revenues, impressions, usage and other factors collected from dozens of third-party sources—has been revised downward,” we read in the firm’s release on the news.

EMarketer reps said in a statement on the revised forecast that analysts’ lowered expectations “[follow] a trend evident from most other firms that have looked closely at Facebook’s revenues over the past year.”

Interestingly, eMarketer expects…

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