Everyone at Apple should be patting themselves on the back after a record-shattering Q1 2015 financial quarter, in which the company raked in $74.6 billion in revenue and an impressive $18 billion in net profits.
But business unit was conspicuous in its absence from Apple’s celebratory earnings call and press release: iTunes.
Now that Apple has filed its 10-Q quarterly report with securities regulators, we now know why: Outside of the App Store’s continued success, iTunes was one of the few areas of Apple business that declined over the last three months. How badly? Read on to find out.