Facebook says its social ad business has plenty of room to grow

Facebook CEO Mark Zuckerberg revealed Thursday that Sponsored Stories in News Feed generate about $1 million a day — half of which is coming from mobile placement — but COO Sheryl Sandberg said that these ads still make up only a small percentage of the site’s inventory.

Facebook’s revenue from advertising was $992 million in Q2, a 28 percent increase from the same quarter last year, and up 13.8 percent from Q1. However, the overall number of ads delivered in the U.S.

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