A new study shows that Facebook's mobile ads generate more user engagement than its desktop counterpart, TechCrunch reported.

The study, conducted by advertising agency TBG, found that click rates for advertisements on Facebook's mobile news feeds were 23 times higher than on Facebook's desktop news feeds and right-column advertisements in Q3. Last quarter, mobile ads had only 14 times the click through rates of desktop ads.

TBG obtained these most recent numbers from 520 billion impressions (the number of times an ad is displayed) for their 282 clients, across more than 190 countries from January 2011 to September 2012.

According to TechCrunch, mobile ad engagement actually boosted Facebook’s overall advertising haul by around 81% for Q3. Additionally, the report found that the average price advertisers pay for an ad click fell by 40%, while the average rate of clicks from consumers shot up, Business Insider reported. 

Just how much are companies willing to pay to advertise on Facebook? TBG’s CEO Simon Mansell told TechCrunch that one of their clients recently spent $1 million on a social advertising campaign that stretched across Facebook's mobile and desktop newsfeeds.

"The new ad unit to promote mobile applications could see an uptick in mobile ad buys from brands looking to promote mobile apps specifically," he added.

While mobile ads didn’t have quite as strong of a showing in European countries, according to the report, the U.S. numbers tell a more optimistic story about mobile advertising than previously predicted.