by Todd Herrold, Kenshoo Social

“Facebook surprised Wall Street on July 24 with a quarterly earnings report that exceeded revenue and profit expectations by a wide margin, largely due to the growth of mobile advertising, which now accounts for 41 percent of total ad revenue generated by the social network. Little mentioned, however, was the status of the Facebook Exchange (FBX) ad business, except for a comment by Chief Operating Officer Sheryl Sandberg, who noted that FBX remains a “very small part” of the company’s overall ad revenue.”

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