ituneslogo.jpgDuring its financial results call covering the first calendar quarter and second fiscal quarter of 2014, Apple shared details on the success of its iTunes Store, which has become an increasingly important revenue source for the company in recent years, mainly due to the popularity of the App Store.

Last quarter, Apple's customers spent a total of $5.2 billion on iTunes purchases, up 24 percent year over year. That's also up from $4.7 during the first quarter of 2014. Cumulatively, Apple's App Store has seen 70 billion total app downloads, up from 65 billion in January.

Apple has 800 million iTunes accounts, most with credit cards attached, an important fact in light of Apple's potential interest in entering the mobile payments market. Back in June of 2013, Apple announced 575 million customers had iTunes accounts, marking a massive growth increase.

Overall, Apple shared via its financial results report that it posted revenue of $45.6 billion and net quarterly profit of $10.2 billion, or $11.62 per diluted share, compared to revenue of $43.6 billion and net quarterly profit of $9.5 billion, or $10.09 per diluted share, in the year-ago quarter.

Top Rated Comments

captain cadet Avatar
119 months ago
What is $0.74.2 ? I do not understand what currency you are using.

Do you mean $0.742 ?
Yes - sorry I didn't see that ;)
Thanks anyway
Score: 1 Votes (Like | Disagree)
Msail30bay Avatar
119 months ago
WOW!! ………… Just keep our credit card(s) info safe.;)
Score: 1 Votes (Like | Disagree)
Jessica Lares Avatar
119 months ago
I like that the profit has gone up, but I don't like that the majority of consumers these days have no problem spending $20 every month for stupid IAP, yet won't buy a $0.99-5 game.

But whatever, 800 million accounts is an amazing number.
Score: 1 Votes (Like | Disagree)
Icaras Avatar
119 months ago
I still don't like the new iTunes logo...

Same here. I do like however, the iOS 7 iTunes logo much better.
Score: 1 Votes (Like | Disagree)
Born Again Avatar
119 months ago
I still don't like the new iTunes logo...
Score: 1 Votes (Like | Disagree)

Popular Stories

gradiente iphone white

Brazilian Electronics Company Revives Long-Running iPhone Trademark Dispute

Tuesday May 19, 2020 1:06 pm PDT by
Apple has been involved in a long-running iPhone trademark dispute in Brazil, which was revived today by IGB Electronica, a Brazilian consumer electronics company that originally registered the "iPhone" name in 2000. IGB Electronica fought a multi-year battle with Apple in an attempt to get exclusive rights to the "iPhone" trademark, but ultimately lost, and now the case has been brought to...