From Seeking Alpha’s transcript of Apple’s last quarterly finance call:
The iTunes store generated strong results with revenue of almost
$1.4 billion. iTunes revenue was up 36% year-over-year, thanks
primarily to continued strong sales of music, video and apps.
With more than 225 million accounts, iTunes is the #1 music
retailer in the world and customers have downloaded more than 15
billion songs today.
Note: that’s $1.4 billion in revenues, not profits. And that includes the
music side, which is almost 10 years old. And further note that Apple doesn’t mention profits from the iTunes Store at all. If they were making big bank, Apple would brag about it. I’m pretty sure the iTunes Store is profitable, but it’s insignificant in the grand scheme of Apple’s income. And yet that’s the business Mike Arrington thinks HP should focus on while selling piece of crap $200 tablets.
★ Tuesday, 23 August 2011