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“I want to dispel this myth thatFacebook can’t make money on mobile,” Mark Zuckerberg said on Facebook’s second earnings call, covering the third quarter of 2012, Tuesday afternoon.
Dispel it he did. Facebook’s flagship mobile ad product, Sponsored Stories, was already driving revenues of $3 million per day by the end of September, he said. At the start of the third quarter, that was just $1 million per day. (Add in the revenue from Sponsored Stories on desktop and the revenues rise to $4 million per day.)
That means that mobile already accounts for 14% of Facebook’s ad revenues. In the third quarter, that figured out to about $150 million.
These numbers are much better than analysts were expecting. Before today, eMarketer was projecting U.S. mobile ad revenues of just $72.7 million this year for Facebook. In fact, the company earned more than that, $95.5 million, just in the third quarter.
Unless eMarketer’s forecasts for Twitter are off by a similar margin, that means it’s no longer true that Twitter is out-earning Facebook in mobile. Twitter is projected to take in $130 million in U.S. mobile ad revenues. Facebook has already blown past that number.
No wonder Facebook shares got such a nice pop today. The company’s biggest challenge is no longer looking like such a big challenge.
source: forbes.com
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