Epic s remedy for App Store terrible for users, Cook says paymentssource.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from paymentssource.com Daily Mail and Mail on Sunday newspapers.
The contours of Epic Games Inc.’s complaint are widely known: the game developer alleges that Apple keeps too much of the revenue raised by businesses selling wares in the marketplace and that its rules are unfair and anticompetitive. Apple Chief Executive Officer Tim Cook will take the stand as soon as Friday to argue that Apple’s rules ensure a secure and seamless user experience and that developers make money through the App Store. The stakes are high, very high.
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Question of the Day
ANALYSIS/OPINION:
Last week, Apple announced it would be opening an engineering hub in Raleigh, North Carolina creating at least 3,000 jobs in machine learning, artificial intelligence and software engineering.
It’s good Apple is investing in America, however, the choice of North Carolina, a solidly purple state, is curious. Especially because Chief Executive Officer Tim Cook cited progressive politics not tax breaks, infrastructure, or climate to explain the company’s decision.
Democratic Gov. Rory Cooper said he spoke with Mr. Cook before the announcement was made and Mr. Cook said he was pleased North Carolina’s legislature had rolled back House Bill 2, a 2016 law that required transgender people to use the public bathroom associated with their birth certi
By Tim Higgins and Brent Kendall In the high-profile court battle set to begin Monday between Apple Inc. and Fortnite creator Epic Games Inc., the judge will grapple with a central question: how to define a market in the digital age. The case pits the world s most valuable publicly traded company, which helped usher in the app economy more than a decade ago, against a privately held videogame maker that wants to topple Apple s so-called walled garden. Epic says the App Store is a monopoly because Apple is the lone distributor of apps to more than one billion iPhones and controls the only payment system for digital services in those apps. That power, Epic says, lets Apple dictate anticompetitive commissions, including a slice as high as 30% of revenue and other terms that harm developers and increase prices. Epic has filed an analyst s estimate that Apple s operating margins for the store were as high as 80% in fiscal 2019, an estimate Apple says is wrong.
After beating earnings forecasts, Apple warns of supply shortages
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Apple Inc. beat market expectations today with its latest quarterly earnings report, but the company warned that it’s facing supply shortages in its current quarter.
For its fiscal second quarter ended March 27, Apple reported revenue of $89.6 million, up 54% year-over-year and quarterly earnings of $1.40 per share. Analysts had been predicting a profit of 99 cents a share on revenue of $77.4 billion.
The revenue figure was driven by growth across Apple’s entire portfolio of products. Mac revenue in the quarter jumped 70% from a year ago, to $9.1 billion. Meanwhile, iPad revenue rocketed 79%, to $7.8 billion, up 78.9%. Other product revenues rose 24%, to $7.83 billion.