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Facebook’s advertising revenue growth is slowing dramatically, but executives were quick to dismiss any notion that the headline-grabbing boycott by would-be buyers is behind the plateau. In its second-quarter earnings report Thursday, the social network reported its ad revenue growth had declined to 10% year-over-year in July, something it expects to continue through October. That’s a big slump from growth rates as high as 17% year over year in the first quarter — but the company lumped any effects from major advertisers’ pausing of large campaigns in with three other major headwinds.Specifically, Facebook blamed “continued macroeconomic uncertainty” alongside a slowdown in the initial usership surge from coronavirus lockdowns, California regulations, and the boycotts for the advertising slowdown. Many large companies — including Walmart, McDonalds, Geico, Disney, and more — have slashed their planned spending on Facebook, though many of the announcements came during the third quarter, meaning the impact won’t be fully disclosed until at least October.On a conference call with investors and analysts, Facebook executives sought to quell fears that the boycott could have a negative impact on the company’s financials.
“It’s an interesting situation we find ourselves in because I think oftentimes when companies are boycotted, it’s because they don’t agree …
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