Apple’s App Store recently broke its previous revenue record of more than one billion dollars in July, and the company said it also saw a record number of customer transactions, according to CNBC. Apple didn’t share specific earnings or app numbers, however, the company did disclose its second-quarter earnings results, with its stock up $1.28 per share, exceeding analysts’ predictions of a $1.23 increase.
Record sales such as this are a huge indicator that App Store sales are not just growing as a result of new customers buying new devices, which is what fueled spending when the last record was broken in December. July is typically a very slow month for new smartphone—and specifically iPhone—sales. A new app sales record says that more people are buying apps more often, even on older devices.
Apps Are Here to Stay
That said, the app business is a fickle one; businesses and individual developers are still trying to figure out how to make money from apps. App usage, however, is on the rise, with CNET reporting that 51 percent of what users spend on their smartphones goes toward apps. Apple’s growth in the dead of summer means that apps not only have a bright future, but that they are growing at a rapid rate.
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