Originally posted on VentureBeat:

Apple CFO Peter Oppenheimer announced today that iTunes store revenue was $1.8 billion for the third quarter of 2012, which is down $100 million from last quarter, in which Apple took in $1.9 billion.

The ecosystem is still healthy, with 650,000 apps in the app store, 225,000 of which are optimized for iPad, but the $100 million decrease in revenue is somewhat astonishing.

Lower iPhone sales are understandable: Consumers are waiting for the iPhone5.

But any new iPhones and iPads — and in fact any new Mac sales — should be additive to app store sales. So, building on a base of $1.9 billion in sales from the previous quarter, 26 million more iPhones and 17 million new iPads should have increased sales of songs, apps, and in-app purchases.

Seasonality should not have impacted sales; we’re not talking about a comparison to a Christmas quarter in which consumers might be downloading more…

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