Apple iTunes raked in £77m on Christmas day

Christmas is a time for giving and sharing – and blowing money in iTunes, if Apple's latest figures are anything to go by. Apple's latest earnings reveal iTunes raked in a mind-blowing US$120M (£77m) on Christmas day alone as users flocked to spend their gift cards and make the most of their shiny new iThings by splashing their cash on music and apps.

Apple revealed the good news during Tuesday's first fiscal quarter earnings call for 2012, where an all-time record for iPhone and iPad sales was also announced.

Apple also let on that the iTunes store brought in a whopping US$1.7 billion (£1.09bn) in revenue for the quarter, some coming from its huge catalogue of 20 million downloadable songs.

It looks like everything is going swell for Apple, with around 600,000 users so far rushing to bag iBooks Author from the App Store since its official unveiling last week, on top of 85m registered iCloud users.

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