Apple earns record $155 billion from App Store

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Apple has earned a record $155 billion from its App Store since 2008 when the platform was launched. The iPhone and laptop maker earned $1.42billion from the store between Christmas and New Year Day alone.

Apple said a quarter of the $155billion from the App store was earned in 2019.

The disclosure set the company shares northward on Wednesday, soaring as much as 2.4%, reported Market Insider.

The holiday-week sales represented a 16% increase over last year’s figure, according to the statement. App Store revenue totaled $386 million on New Year’s Day alone, a 20% jump from the year-ago figure and a record for single-day sales.

The past year was the biggest yet for the company’s increasingly important services sector, Eddy Cue, Apple’s senior vice president of internet software and services, said in the announcement.

“We begin the new decade with incredible momentum and gratitude to our customers who have shown such enthusiasm for all of our Services, and we continue to celebrate the work of the world’s best creators, storytellers, journalists and developers,” Cue said.

The Cupertino, California-based company helped push major stock indexes higher throughout 2019, surging 86% over the 12-month period on strong iPhone 11 demand and rapid growth in its wearables business. The annual gain was Apple’s best since 2009.