From the New York Times blog, The Lede:

In
the four-missile version of the image released Wednesday by Sepah News,
the media arm of Iran’s Revolutionary Guard, two major sections
(encircled in red) appear to closely replicate other sections
(encircled in orange). (Illustration by The New York Times; photo via
Agence France-Presse)

Latest update at 3 p.m. Eastern Agence France-Presse has retracted the image as “apparently digitally altered.” More developments at the bottom of the post.

As news spread across the world of Iran’s provocative missile tests,
so did an image of four missiles heading skyward in unison.
Unfortunately, it appeared to contain one too many missiles, a point
that had not emerged before the photo was used on the front pages of
The Los Angeles Times, The Financial Times, The Chicago Tribune and
several other newspapers as well as on BBC News, MSNBC, Yahoo! News,
NYTimes.com and many other major news Web sites.