Analysis

Apple financials reveal iTunes Store’s $4.3bn quarter


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apple-logo-fontApple announced its latest quarterly financial results last night, beating analyst predictions with $35.3bn of revenues and a $6.9bn net profit.

This time last year, those figures were $35bn of revenues and $8.8bn of net profit. Device-wise, Apple sold 31.2m iPhones and 14.6m iPads in its fiscal Q3, up 20% and down 14% respectively year-on-year.

Apple’s iTunes Store generated record billings of $4.3bn in the last quarter, which translated into $2.4bn of revenues for Apple. The company says it has now paid out more than $11bn to iOS app developers, and has more than 320m registered iTunes accounts.

CEO Tim Cook gave his best poker face when asked by analysts what Apple has up its sleeves for future products. “We are working on some stuff that we are really proud of and we will see how it does, and we will announce things when we are ready.”

That’s one reason why the earnings call wasn’t hugely informative: Apple is expected to launch a new iPhone and iPad in Autumn, so isn’t talking about them. Meanwhile, new services like iTunes Radio won’t launch until then either, as part of the public release of Apple’s iOS 7 software.

The big announcements came in June at Apple’s WWDC show, then, and their impact won’t be known until Apple publishes its results for the final quarter of 2013.

There’s some fun to be had with the iTunes numbers. Apple is paying iOS developers around $1.38bn every quarter, which means around $1.97bn spent on apps when you include its 30% cut.

That indicates that the App Store now accounts for around 46% of overall iTunes spending, with the rest shared between e-books, music, TV shows and films. 800k TV shows and 350k films are being downloaded from iTunes every day, while earlier this year Apple said that 21.6m songs are downloaded every day from the store.

Stuart Dredge

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