Advertisers like Android's variety of users
Chalk up another major 'first' for the Android OS. Millenial Media has just put out their monthly Mobile Mix report (via Droid Life) which shows that Android ad revenue now exceeds iPhone-only ad revenue. This is the first time this has ever happened.
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iOS impression growth continues to increase at a regular pace, but Android is growing too fast for Apple's platform to keep up. This comparison includes only iPhone VS Android phones, not tablets or PMPs. Android saw higher average fill rates and click-through rates, which means that those users are actually more valuable (IE, more likely to be reached through ads) than iOS users.
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One reason for Android's success seems to be its high number of first-time smartphone users. Advertisers are willing to pay more money to hit customers right as they first start down the path of smartphone ownership.