Who says Facebook isn’t making any money? On Tuesday afternoon Mark Zuckerberg announced that the company is making $3 million per day in revenue from Facebook’s flagship mobile ad product, Sponsored Stories. Add in the revenue from Sponsored Stories on desktop and the figure rises to $4 million per day.
These numbers exceed analyst expectations: in the third quarter alone, Facebook earned more in U.S. mobile ad revenue than some predicted they’d make in the whole year. This could mean that Facebook is finally out-earning Twitter in mobile.
Earlier on Tuesday, Techonomy Founder David Kirkpatrick spoke on Bloomberg TV about how Facebook is finally realizing the need to focus on revenue and profit—although it has taken the company a long time to fully embrace mobile. If this recent earnings report is any indication, Facebook seems to have finally gotten the memo.
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