Asymco analyst Horace Dediu examined Apple's iTunes/Software/Service business and found that it would be ranked number 130 in the Fortune 500 ranking of companies, that's just below Alcoa and above Eli Lilly.
Notably, revenues do not reflect total billings since Apple reports only 30% of app transaction values. The 'gross' revenues are now about $7 billion per quarter.
On a yearly basis the iTunes/Software/Services group had gross revenues of $23.5 billion with growth of 34% y/y.
Check out the chart below that compares the iTunes group to Google's core search business. It's nearly half the size and growing slightly faster.
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Notably, revenues do not reflect total billings since Apple reports only 30% of app transaction values. The 'gross' revenues are now about $7 billion per quarter.
On a yearly basis the iTunes/Software/Services group had gross revenues of $23.5 billion with growth of 34% y/y.
Check out the chart below that compares the iTunes group to Google's core search business. It's nearly half the size and growing slightly faster.
Read More