Short story: Intel beat market expectations and made $3.4 Billion in profits. Even the traditional PC segment saw year on year revenue growth, which isn't bad for a contracting market.
The real profits growth is coming in the "cloud" business and IoT is becoming a big business with $689 million in quarterly revenue.
Upshot: Because Intel's guidance for Q4 was slightly below Wallstreet expectations the stock is getting hammered, but they are making some real money over there.
http://www.intc.com/results.cfm
