Despite online ads slump from coronavirus, Facebook sales poised to hold steady [Reuters]
Meta Platforms, Inc. - Class A (FB)
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Source: Reuters
Despite online ads slump from coronavirus, Facebook sales poised to hold steady SAN FRANCISCO (Reuters) - Facebook Inc ( FB.O ) ad sales appear to have ticked up since late March, offering investors reason for optimism even as decimated advertising budgets from the coronavirus are expected to weigh heavily on first-quarter earnings, according to data from firms that track online ads. Analysts on average expect Facebook on Wednesday to report 16.1% growth in first-quarter revenue, its lowest since the company went public in 2012, according to Refinitiv data. The estimates were revised down by about $1 billion since January to reflect a plunge in demand for ads for travel, restaurants and other shuttered consumer services because of the global coronavirus pandemic. But data from digital marketing agency Gupta Media indicates that the volume of ads shown on Facebook doubled late in the quarter as usage surged, even as prices declined by about half to $1.08 per thousand impressions at t
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