It's possible.

I´ve had a bit of a low time, with the breaking of my computer, which means I haven´t been able to program for a few weeks.  But, blogs like this http://makemoneywithandroid.blogspot.com/ really have inspired me to get back to programming (as I've had motivation problems in the past).  He also uses leadbolt ads and is making a nice amount of money each month.

But, my leadbolt ads have made more money so far than in the whole of February, I believe it was from a minor update, and the games going to the top of the updated applications list on slideme.org at the right time, one day I even made just under $9, which is a record.

I now have bought a cheap second hand computer, as that's really all I can afford at the moment, but it's allowed me to get back to making my third mobile game Pixeloids.

If you are into Android Application development, I do recommend you sign up to leadbolt, as I was sceptical at first, and even though I'm not making a massive amount yet, for the two very small games that I made, it's a good amount.    If you do sign up to leadbolt, I'd appreciate if you use my referral link, here.