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Apple iTunes Accounts for 85% of U.S. Song Downloads

23 Oct, 2007 By: Chris Tribbey

Apple reported its best fourth-quarter (ended Sept. 29) earnings ever, with revenue of $6.22 billion and net income of $904 million, up 67% over the same period last year.

Speaking in a conference call with investors Oct. 22, Apple CFO Peter Oppenheimer made no mention of the fiscal impact due to videos from the company's iTunes store, but did note that music revenue grew 33% over the previous year. Oppenheimer sited Nielsen Soundscan data that indicated iTunes accounts for more than 85% of songs purchased and downloaded in the United States, and said iTunes customers have now purchased more than 3 billion songs and 100 million TV shows.Oppenheimer reported the company had sold 10.2 million iPods during the quarter.

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