EMarketer lowers Facebook revenue forecast to $5 billion

New York—EMarketer projects Facebook's total revenue will reach $5.0 billion this year, up 35.9% over last year. That forecast is down from a February projection of $6.0 billion in total revenue due to underperformance in the first and second quarters, according to eMarketer.

Next year, Facebook's total revenue is expected to reach $6.6 billion, up 32% over this year, as it rolls out new ad services including an advertising exchange.