Apple CEO Tim Cook thinks the number of people using iTunes is “staggering.”
Apple has nearly 800 million iTunes accounts, Cook said during today’s quarterly earnings call. Apple customers spent $5.2 billion on iTunes purchases last quarter, 24 percent more than the same period a year ago. That’s also a significant jump from the $4.7 billion that Apple customers shelled out on apps, music, and movies the prior quarter.
The Cupertino, Calif.-based tech giant now measures 70 billion cumulative app downloads from its App Store, up from 65 billion in January.
Apple has more than 400 million credit cards on file just from iTunes, a Morgan Stanley executive told VentureBeat last week. This an important asset for Apple, as rumors suggest that it may be working on a mobile payment system.
Apple had a strong second quarter, beating analysts’ expectations. Apple reported $10.2 billion in profit on revenues of $45.6 billion for that period. These results compare to net profit of $9.5 billion on revenue of $43.6 billion from the same quarter last year. Get the full story here.