Apple said developers have now received more than $20 billion in revenue from selling their products on the App Store.

And nearly half of this has been generated in just the past twelve months, according to the iPhone maker’s CFO, Luca Maestri.

As has been Apple said developers have now received more than $20 billion in revenue from selling their products on the App Store. Nearly half of this revenue has been generated in just the past 12 months, according to the iPhone maker. As has been previously revealed the App Store has now seen more than 75 billion downloads over the course of its six year history, with 1.2 million titles now available. Speaking in the company’s latest results presentation, Apple CFO Luca Maestri said the figures "truly stands out among our competition as our developers continue to benefit from the broad reach and powerful design of the App Store, coupled with Apple’s large, loyal and very engaged customer base". Maestri also revealed that iTunes saw record billings of $5.4 billion during the quarter, up 25 per cent year-on-year "driven by very strong App Store sales". This translated to iTunes revenue of $2.6 billion, up 8 per cent compared with the equivalent quarter in 2013. The company’s executives also talked about the potential of the recently-announced partnership with IBM to drive the creation of new types of enterprise apps that tap into the IT giant’s big data capabilities. Apple CEO Tim Cook even suggested these apps could provide a catalyst for future iPad sales growth. Previously revealed, the App Store has now seen more than 75 billion downloads over the course of its six year history, with 1.2 million titles now available.

Speaking in the company’s latest results presentation, Maestri said the figures “truly stands out among our competition as our developers continue to benefit from the broad reach and powerful design of the App Store, coupled with Apple’s large, loyal and very engaged customer base”.

Maestri also revealed that iTunes saw record billings of $5.4 billion during the quarter, up 25 per cent year-on-year “driven by very strong App Store sales”. This translated to iTunes revenue of $2.6 billion, up 8 per cent compared with the equivalent quarter in 2013.

The company’s executives also talked about the potential of the recently-announced partnership with IBM to drive the creation of new types of enterprise apps that tap into the IT giant’s big data capabilities.

Apple CEO Tim Cook even suggested these apps could provide a catalyst for future iPad sales growth.