“Apple released their 2013 fiscal third quarter earnings this past Tuesday, and within Apple’s report a surprisingly strong number emerged – iTunes revenue grew to $4 billion USD,” Mark Reschke writes for T-GAAP.
“The iTunes figure was stronger than analysts had expected, and year over year sales growth climbed a solid 25%,” Reschke writes. “At the same time Apple’s China sales drew in a disappointing $4.9 billion.”
Reschke writes, “During Apple’s conference call, CEO Tim Cook pointed to iTunes and services frequently, while carrying a muted tone on China. Several factors in China may limit Apple growth in the future, not the least of which may be the communist government themselves, repeatedly hammering Apple via their state run media during the last two quarters. Propaganda or not, the China’s continued negative coverage appears to be taking a toll on Apple’s sales in the region. iTunes content sales for Apple is a different story.”
Read more in the full article here.
Apple’s iTunes Store generated $3.9 billion in Q3, up 25% YOY – July 23, 2013