Facebook’s total revenue for mobile ads will jump up to $2 billion this year from under $500 million in 2012, increasing by over 300 percent, according to a report from eMarketer. The social network is still trailing behind Google, though, which is projected to rake in $8.85 billion in mobile revenue this year.
The news is particularly impressive considering how quickly Facebook has been able to ramp up its mobile profits (just two years ago the company had no mobile revenue at all). The forecast also reveals that although Google appears to be dominating the field, the search giant’s share of mobile ad revenue only increased by about three percentage points from 2012 to 2013, while Facebook’s more than doubled.
Facebook founder Mark Zuckerberg is still committed to carving out a share of the mobile market for his company, despite a number of setbacks in the past few months. The Facebook Home smartphone UI for Android has had disappointing adoption rates, while the Facebook First smartphone from HTC crashed and burned. In the face of these challenges, the news that Facebook now accounts for over 10 percent of mobile ad revenue worldwide may be the good news the company needed to hear.