Intel had rare cause for celebration yesterday afternoon when it posted stronger-than-expected fourth quarter profits, showing it’s still a force to be reckoned with even though it’s failed to gain a foothold in the mobile device market.

The chipmaker pulled in $3.6 billion in net profit, amounting to $0.74 per share, on revenues of $14,9 billion for the quarter. That comfortably beat out analyst’s estimates of $0.63 per share on revenues of $14.8 billion.

Intel CEO Brian Krzanich said the results were “consistent with expectations” and underlined the company’s strong finish to the year.

“Our 2015 results demonstrate that Intel is evolving and our strategy is working,” Krzanich continued. “This year, we’ll continue to drive growth by powering the infrastructure for an increasingly smart and connected world.”

Intel’s solid performance came against the backdrop of a report from Gartner Inc. a yesterday that the PC market endured yet another tough quarter, with shipments falling by 8.3 percent to just to just 74.7 million units in the fourth quarter. The PC market is still Intel’s most profitable business unit, but the fact that it showed an overall profit in spite of this slump shows that it’s making good progress in the data center and other areas.

Still, the chipmaker warned that its revenues for the next quarter are likely to slip to around $14 billion, including a predicted $400 million in revenue it’ll gain as a result of its recent acquisition of Altera Corp. Intel said this was due to its core business being at “the low end of seasonality”.

Despite the positive quarter, Intel’s shares were trading five percent lower at the end of the day at $31.09 per share.

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