App Store in record-breaking July for Apple

Apple has announced that the App Store achieved record breaking revenue for the month of July.

The Cupertino-based company told CNBC that the store also saw a record number of customers making transactions that month.

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The firm announced its second quarter results in July, announcing $1.28 a share against analyst estimates of $1.23 a share.

Apple also claims to have reached 75 billion cumulative App Store downloads and to have paid approximately $20 billion to developers, around half of which was handed out in the past year.

Apple takes a 30 per cent cut from each app sold through the store, so its continued success is a key money-spinner for the firm.

The company also estimates that it has provided 500,000 jobs in Europe through the success of the App Store and the development industry it supports, on top of the direct employment through the firm itself.

CEO Tim Cook told CNBC that he was delighted with the results. "I couldn't be happier. This is the best execution of any quarter since I've been at Apple," he said after the earnings were announced.

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The news is another milestone for the company and its flagship App Store. Earlier this year, Apple announced that there was over $1 billion of App Store transactions during December 2013.

With the next iteration of the iPhone set to launch in early September, Apple will be eager to maintain the App Store's strong results.