“While Apple’s services segment is benefiting from a broad base of growth drivers, including App Store sales, Apple Pay, Apple Music, and more, App Store sales serve as the segment’s primary catalyst,” Daniel Sparks writes for The Motley Fool. “That’s why when Apple shares an update on its App Store business, investors may want to take note.”

“On Thursday, Apple shared an update on its App Store, including the announcement that all-time App Store earnings paid to developers hit $70 billion.,” Sparks writes. “All-time gross App Store revenue, including Apple’s 30% cut and developers’ 70% cut, has now hit $100 billion.”

“Developer earnings from the App Store are up 40% since August 2016, growing from about $50 billion to $70 billion,” Sparks writes. “App Store downloads are up more than 70% in the trailing 12 months compared to the preceding 12-month period… Further, thanks to Apple’s more accommodating policies on recurring subscriptions (the policies were revamped last year), subscriptions have now expanded to every app category and are up 58% year over year.”

Read more in the full article here.

MacDailyNews Take: Recurring growth. That sounds like something Wall Street might actually appreciate.

Apple announces global developer App Store earnings top $70 billion – June 1, 2017