Yesterday, we were discussing with you the financial results for Appleâ€™s second fiscal quarter in 2014. As it almost always happens, the company has managed to beat analystsâ€™ estimates with Overall a 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. But during the financial results call, some interesting stats were revealed about iTunes:
- Appleâ€™s customers spent a total of $5.2 billion on iTunes purchase in 2013, up 24 percent year over year
- Appleâ€™s App Store has seen 70 billion total app downloads, up from 65 billion in January
- There are now more than 800 million iTunes accounts, most with credit cards attached, which represents a mind boggling amount.
So, if we take into account that there were 575 million iTunes accounts in June, 2013, then by the end of 2015, Apple could reach the incredible achievement of having 1 billion iTunes users. As a matter of fact, if Apple maintains the pace of having around 700,000 new iTunes accounts created every day, then we could see the 1 billionth users register by the end of 2014, actually. This represents a huge opportunity for Apple to deploy its own mobile payments solutions, as it was speculated recently.