App Store devs have earned $50 billion

Apple CEO shares news

News by Rachel Weber Senior Editor

Published on Aug. 3, 2016

A quick bit of news from the Apple empire, CEO Tim Cook today revealed on social media that developers have earned $50 billion from the App Store.

.@AppStore developers have now earned over $50 billion! Congratulations on your success and such inspired creativity.
— Tim Cook (@tim_cook) August 3, 2016

He added that July was a record-breaking month for the App Store with the highest-ever monthly billings and money paid out to developers. Of course, that's good news for Apple too - it takes a hefty cut of all those transactions.

Last week Apple reported quarterly revenue of $42.4 billion and quarterly net income of $7.8 billion, and shared that it had sold over a billion iPhones.

"Our Services business grew 19 percent year-over-year and App Store revenue was the highest ever, as our installed base continued to grow and transacting customers hit an all-time record," CFO Luca Maestri said.