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App Store devs have earned $50 billion

Apple CEO shares news

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. https://twitter.com/tim_cook/status/760929629226041345?ref_src=twsrc%5Etfw 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.

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