With the development cost of moving from Mac OS X to iOS and the continued investment needed to face increased competition from devices like Google's offering, Apple may well be just breaking even in order to maintain a presence in this market. It'll definitely be interesting to see where they go from here. Apple may still consider it a hobby, but I'm sure there will soon be investor pressure to actually make money off it.
This is Apple we are talking about... not HP. The investors trust Apple and will never force them to do anything.