Facebook generating $3 million a day from its mobile presence

PanARMENIAN.Net - Facebook's bet on relying on its mobile absence to boost earnings has started to show signs of promise. The social networking service is set to generate over $1 billion a year through mobile ads alone. Sponsored Stories, the ads placed in news feeds, will generate more than $1 billion in revenue a year from mobile devices, tomsguide.com reports.

"We ended the third quarter with more than $4 million a day coming from Feed and about three-quarters of that coming from mobile Feed," said CFO David Ebersman.

Based on his figure, Facebook is generating $3 million a day from its mobile presence, which would equal yearly earnings of $1.1 billion. Comparatively, during the latter stages of June, Sponsored Stories were generating around $500,000 a day from mobile devices, with the former figure representing a 500 percent increase.

Mobile ads generated around $150 million for Facebook during the quarter, representing about 14 percent of the company's total advertisement revenue.

While it didn't divulge much information, the firm has been testing a mobile ad network where it sells ads to mobile sites and apps outside of Facebook.