Analysts forecast that Facebook could lose between 1% and 5% of its revenue.
With over 500 companies having now joined the advertising boycott of Facebook called for by top civil rights groups, some investors are concerned about the company’s lost revenue—but most Wall Street firms estimate that Facebook is still looking at less than a 5% hit to overall revenue.
“As important as these advertisers are to Facebook, it would likely take a far broader advertising boycott over a longer period of time to materially impact Facebook’s ad revenue,” Stifel analysts said in a recent note.
According to advertising database Pathmatics, the top 100 highest ad spenders on Facebook only accounted for around 6% of its entire revenue.
