Apple's iTunes generated revenue of $13.5 billion last year, making it the company's fourth-largest business, according to Asymco analyst Horace Dediu.
A business that simply broke even a few years ago has been rising "steadily and rapidly," Dediu said in a post yesterday. iTunes has averaged growth of more than 30 percent over the past two years. The $13.5 billion in sales in 2012 was up from $10.2 billion in 2011.
At the same time that iTunes is adding a greater chunk of sales to Apple's overall results, the Mac and iPod … Read more