YP (formerly AT&T Interactive) announced today that its annual ad revenue attributed to mobile surpassed $350 million, which it says makes it the number two company in the industry for that, based on data from IDC.

Overall digital ad revenue in 2012 reached about $1 billion, and mobile searches across YPmobile apps and YPcom exceeded 40% of total local searches across YP properties in 2012.

“YP has firmly established itself as the number two company in the U.S. mobile advertising industry in 2012. And that puts YP in a great position going forward,” said Karsten Weide, Program VP, Digital Media and Entertainment at IDC.

“Facebook probably would dispute the claim, with over $300 million in mobile revenue in Q4 alone, according to the company,” writes Search Engine Land’s Greg Sterling, who notes that Google is the clear market leader. “Regardless, YP is the largest ad network dedicated to location-based advertising.”

“For one, mobile advertising continues to grow rapidly,” says Weide. “Last year the segment grew by more than 70 percent, and we think it will grow by another 60 percent this year. And also, with consumers checking for nearby information on the road, and with YP providing this data, they will see their business grow rapidly, too.”

“Since launching in May of last year, we’ve aggressively leveraged our core business assets to accelerate our position as the digital leader in local search, media and advertising,” said YP CEO David Krantz. “In 2013, we expect mobile to continue to fuel our growth as we expand relationships with 50+ million consumers using YP digital products on a monthly basis and extend mobile reach across our Local Ad Network of over 300+ digital publishers.”

As YP notes, YP.com was consistently ranked among the top 40 mobile web domains in the U.S. by comScore in 2012.