Skip to content

Apple’s App Store revenue rises 14% in October

2024 November 8
by RSS Feed

Apple’s App Store revenue experienced a 14% year-over-year increase in October, excluding currency fluctuations. This solid performance, highlighted by investment firm UBS, indicates continued growth in the App Store’s revenue.

Chris Ciaccia for Seeking Alpha:

“Mid-teens growth despite a tough YoY comp (Oct-23 + ~13.5%), similar to the month of Sept, is a solid result in our view,” analyst David Vogt wrote in a note to clients about the data, which was released from intelligence firm Sensor Tower. “However, we remain cautious considering that the rest of the Dec quarter faces similarly challenging comps in the ~13% range while iPhone sell-through is unlikely to accelerate, typically a source of incremental App Store demand.”

“Broad-based strength drove global App Store growth App Store growth in both the US and [the rest of the world] was ~15% in the month of [October],” Vogt added.


Vogt, who maintains a Neutral rating on Apple with a $236 price target, believes it’s too soon to attribute the strong App Store performance to the recent release of Apple Intelligence in iOS 18.1. However, he acknowledges that the growth is a positive indicator compared to Apple’s projected performance for its Services segment.


We are currently about 1/4th of the way to being sustainable with Substack subscriptions.

Not a bad start!

Please tell your Apple-loving friends about MacDailyNews on Substack and, if you’re currently a free subscriber, please consider $5/mo. or $50/year to keep MacDailyNews going. Just hit the subscribe button. Thank you!

Read on Substack

.

Source link: https://macdailynews.com/2024/11/07/apples-app-store-revenue-rises-14-in-october/

Leave a Reply

Note: You may use basic HTML in your comments. Your email address will not be published.

Subscribe to this comment feed via RSS