We all know Apple is one of the biggest companies around, but how big is just iTunes? Bigger than many famous, multinational corporations, as it turns out… and that’s without counting in iPhone, iPad and Mac sales.
Asymco analyst and all-around numbersmith Horace Dediu decided to sit down and calculate how much iTunes was worth, and came up with a number of roughly $7 billion in revenue per quarter, with those numbers continuing to grow.
By Dediu’s calculations, that makes iTunes a bigger company than Xerox, CBS and U.S> Steel.
“On a yearly basis iTunes/Software/Services is nearly half of Google’s core business and growing slightly faster,” Dediu reports. “The iTunes “empire” of content and services would be ranked as number 130 in the Fortune 500 ranking of companies (slightly below Alcoa and above Eli Lilly).”
Pretty incredible, and this is just one piece (albeit a fundamental one) in Apple’s empire. Check out his full report here.