Apple now nears almost 800 million registered iTunes accounts, a figure that CEO Tim Cook, described as “staggering” during the company’s conference call held on Wednesday to discuss its Q1 financial results.
The last time when the company discussed iTunes accounts was during its annual developers conference in June. At that time, the company claimed some 575 million iTunes accounts.
During the conference, the CEO said, “We now have an almost 800 million iTunes accounts, most of these with credit cards. This is a staggering number.”
However, despite a sharp increase in iTunes accounts, the sales of iTunes showed signs of deceleration.
Tim Cook, while answering a question from an analyst on the conference said, “Keep in mind, in that category there’s several things – not just the App Store kind of revenues.” “So if you looked at App Store only, it would look a little different than what you’re saying. But in terms of your question about monetization, I do believe that we can monetize more than we are from a services point of view in existing areas and in new areas. And I’m particularly encouraged that when I look at the App Store and how it’s doing, the strength was broad-based. In fact, in China, the growth was in the triple digits.”
The 800 million figure was a mere headline that contributed to a ‘blowout quarter’ by Apple. It not only raised Apple’s dividends but also its forecast for the next quarter that continues till June. During after-hours trading on Wednesday, Apple’s stock increased by more than 8%.