Spend has increased in the financial sector on mobile during the second quarter of 2011 by an astonishing 1,095 percent, according to a new report by Millennialmedia.

“The mobile space has simply grown astronomically,” said Mack McKelvey, SVP of marketing at Millennial Media, Baltimore, MD.

Not alone has the financial sector soared, there has also been a huge increase in spend from retail on mobile, 956 percent during the second quarter compared with the second quarter of 2010. Other verticals also jumps, 426 percent for pharmaceuticals, 236 percent for automotive, 234 percent for entertainment and 145 percent for travel.Read more at Mobile Marketer.