For at least one day this year, an app for the Apple Inc. (NASDAQ: AAPL) iPad generated more revenue for its creator than one of the two most popular games for the mobile device. TurboTax from Intuit Inc. (NASDAQ: INTU) finished number two on the charts, behind Supercell’s Clash of Clans, but ahead of Candy Crush Saga from King Digital Entertainment PLC (NYSE: KING).
According to research firm Distimo, which tracks mobile app downloads and revenues, TurboTax’s big day was Tuesday April 15, but it reached the top 10 on April 6. The TurboTax app for the iPad is free. Revenue comes from in-app purchases, which start at $49.99 per return for the federal tax return. Distimo reported that the most popular package is the “Deluxe Federal and State” offer for $89.99.
King Digital came public in late March at an initial public offering price of $22.50. The stock closed at $19 on that first day and has never closed above $20 since, although shares did hit an intraday high of $21.93 in early April. Shares closed at $17.81 on Thursday, in a post-IPO range of $15.84 to $21.39.
Intuit shares closed at $74.03 on Thursday, in a 52-week range of $55.54 to $82.40. Shares have dropped 10% from the annual high, which was posted about five weeks ago.