Due to the epidemic of COVID-19, which has been affecting our lives to the foundation for months, large companies have been damaged besides many small businesses. However, besides these damaged companies, companies that provide much needed services during the epidemic make more profit than ever before.
Apple seems to be more profitable than ever with the App Store, as many people who are affected by the curfew or who are calling for a home stay are breathing online.
App Store is having its strongest months for a long time
According to reports by Morgan Stanley Investment Bank analyst Katy Huberty, the App Store net profit grew by 31 percent year-on-year in April to $ 1.7 billion. This output is 19 percent more than last March and is considered the largest annual growth since September 2017. Application downloads have increased by 40 percent compared to the previous year.
Since iPhone sales have slowed down, Apple’s earning door has become increasingly important. With the reduction of curfews, App Store revenue growth is expected to peak in April. However, Huberty thinks that revenue expectations for Apple services will be exceeded in June.
Considering that there are approximately 900 million active iPhones, it is not surprising that the revenue generated by the App Store as well as many subscription services offered by Apple is increasing.
Even though Android has a 85 percent share in the global smartphone market, Apple developers have earned almost twice as much revenue so far.
“These results continue to verify that the App economy is healthy and that the App Store benefits from social distance and increased mobile interactions,” Huberty said in his report. she pointed out.