Thanks to the continued growth of Apple’s iOS devices, the iTunes platform that includes the App Store and the iBookstore is set to grow at a rate of 39% over the next three years and rake in a whopping $13 billion in revenue during 2013.
According to one analyst at Global Equities Research, publishers are increasingly turning to Apple’s iBook format as opposed Amazon’s Kindle due to the popularity of the iPad. Analyst Trip Chowdry wrote in a note to clients:
Our research with students indicates that they would rather have books on iPad vs. Kindle.
In terms of usability of iBook vs. Kindle application on iPad – on a scale of 10, iBook is probably 8 and Kindle application on iPad is probably 5 – Kindle application lacks the finish and crispness of an iBook.
In addition to the iBookstore, the App Store has continued to grow among users with the iPad. The application attach rate on the iPad was averaging around 15 apps just six months ago — today it is in excess of 45.
Thanks to Apple’s latest ‘Back to School‘ promotion, which has resulted in strong sales of Apple’s Mac computers, Chowdry has also adjusted his estimates for Apple’s third quarter, expecting revenues of $24.8 billion and earnings of $5.81 a share — reflecting a year-over-year increase of 58% and 65% respectively.
During 2011, Chowdry expects Apple to hit revenues of more than $104.08 billion with earnings at $25.09 a share, with an increase of 59.8% and 65.6% respectively over 2010.
Apple is set to announce its second quarter financials with a conference call on July 19.
[via The Next Web]