Mobile advertising network Millennial Media reported its Q2 financials last night, posting $39.4m of revenues and a net loss of $2.2m – narrowing the latter from the $4m loss in Q1. The revenues were up 75.6% year-on-year, with Millennial saying its network now reaches 350m unique users a month through 35,000 apps. Boss Paul Palmieri was characteristically bullish, saying Millennial continues “to power the app economy, both domestically and increasingly into new international markets”. The reality is that no single ad network is dominating for now.