Apple has announced that App Store developers have earned $50 billion so far, with company CEO Tim Cook revealing the news on Twitter.
Cook added that July was a record-breaking month for the App Store, with the highest-ever monthly billings and money paid to iOS developers. Apple takes a nice cut of those profits, so the iPhone giant is laughing all the way to the bank. Apple reported a quarterly revenue of $42.4 billion, with a net income for the quarter of $7.8 billion.
Apple CFO Luca Maestri said: "Our Services business grew 19 percent year-over-year and App Store revenue was the highest ever, as our installed base continued to grow and transacting customers hit an all-time record".