Millennial Media revenues surge 75% in Q2 to $39.4M
Millennial Media reported second quarter revenues of $39.4 million, a 75.6 percent year-over-year increase. The mobile advertising network nevertheless posted a net loss of $2.2 million, an improvement on first-quarter losses of $4 million but a significant leap compared to second-quarter 2011 losses of $152,000.
The Millennial Media network now reaches more than 350 million monthly unique mobile users worldwide--up from 300 million in March 2012--including roughly 140 million uniques in the U.S. market. More than 35,000 mobile applications now run on the firm's platform, a year-over-year increase of 17 percent. "Most developers can integrate only a small number of SDKs into their apps, so the growth of our app pace is indicative of how critical our platform is for large and small developers," said Millennial CEO Paul Palmieri on the company's earnings call.
As of the end of 2011, Millennial Media controls 17 percent of the mobile display ad market according to research firm IDC, behind Google's (NASDAQ:GOOG) AdMob at 24 percent but ahead of Apple's (NASDAQ:AAPL) iAd at 15 percent.
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