Apple today shares some good news in the wake of yesterday's disclosure of a significant, market cut in revenue forecast, attributed to falling iPhone sales in China's lacking economy. The company says the App Store, at least, had a great holiday. This year, customers spent $ 1.22 billion during the 2018 high season and broke a new one-day record on New Year's Day.
$ 1.22 billion in App Store spending happened between Christmas Eve and New Year's Eve, Apple said. This is typically the high season for App Store spending expenses, as customers upload new iPhones and iPads with apps, and use App Store gift cards to purchase paid apps and games.
Apple also said customers spent more than $ 322 million on New Year's Day 201
During the holidays, games and self-care applications were the most popular categories, with Fortnite and PUBG among the most downloaded games, along with Brawl Stars, Asphalt 9 and Monster Strike, Apple said.
At the same time, as the new year starts, customers are now turning to health and fitness apps, educational applications and productivity programs – which to some extent are inspired by their New Year's resolutions. The apps that run these categories include 1Password, Sweat and Lumosity.
Last year, Apple also announced a record-breaking holiday season, with $ 890 million spent during Christmas Eve and $ 300 million on New Year's Day 2018.
Apple CEO Tim Cook, in his letter yesterday, indicated that the App Store is still one of the bright spots in the company's "Services" category, though he delivered the smashing news of a decline in iPhone sales.
The company said it now expects $ 84 billion in the quarter that ended Saturday, down from the previous $ 89 billion estimate to $ 93 billion. However, "Services" generated more than $ 10.8 billion in revenue in the quarter, with each geography hitting a new quarterly record. The company also noted that it is still on track to reach the goal of doubling the size of this business from 2016 to 2020.
Today, Apple said the "Services" business put full-time positions beyond the App Store in Apple Music, Cloud Services. , App Pay and App Store's search engine business.
A record break at the end of the year for the App Store should not come as a surprise, given that the overall app economy continues to grow, with mobile games still running revenue and subscription app business also giving gains. App Annie's recently predicted app stores will surpass $ 122 billion globally in 2019, including the App Store, Google Play and third-party Android app stores in China, combined.
Before Apple's report, app's great intelligence firm Sensor Tower last week noted that the US App Store broke expense records on Christmas, with a record $ 54 million on that day alone – up 31 percent the year before. It had also passed $ 52 million spent on Black Friday 2018, the company said.
Apple usually publishes an App Store holiday report at this time of year, so today's release isn't necessarily an attempt to create good print at a time when stocks are crashing. But given Apple's usual attempt at spinning, it can be seen that way.