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Article posted: 1/23/2013 4:39 PM

Apple’s profit rocket hits air pocket

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Apple shipped 47.8 million iPhones in the last quarter, about 1 million less than analysts were expecting, and 22.9 million iPads, also about 1 million short.

ASSOCIATED PRESS

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Apple's profit surge halted in the latest quarter, as a flood of new products like the iPhone 5 meant high start-up costs for new production lines. Apple posted net income for the October to December quarter that was flat with the year before. It was the first time in years that Apple didn't post a double-digit earnings increase.