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Apple’s global App Store revenue surges 12% year over year in June
According to a note from Bank of America, Apple’s global App Store revenue surged 12% year over year in June, supported by continued growth…
Citing SensorTower data, BofA said App Store revenue rose to $8.4 billion in Apple’s fiscal third quarter, an 11.5% increase from the same period last year. BofA noted that “Photo & Video, Lifestyle, Books, Education, & Utilities each grew 100 basis points,” while “Productivity grew 200 basis points, marking the highest percentage change… We believe either scenario in the ensuing years could be a long-term tailwind for AAPL’s app store revenue.” Despite recent concerns over off-app payments following the Epic Games ruling, BofA said there is “no indication of adverse impact” on revenue to date.
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