If Facebook’s revenue in the second quarter comes in at the lower end of its forecast, it would be the company’s first revenue drop.
Prior to the first quarter of this year, Facebook’s revenue growth had never sunk into the single digits. In the second quarter, it may not grow at all. Though shares of Facebook parent Meta jumped about 20% in extended trading on Wednesday on better-than-expected profit, the company’s business has flatlined and doesn’t look like it will rebound at least until the second half of the year. In its earnings report for the first quarter, Meta gave revenue guidance for the current period of $28 billion to $30 billion, trailing the $30.6 billion average analyst estimate, according to Refinitiv. At the middle of that range, revenue would drop from the second quarter of 2021, when sales came in at $29.
