To put things into perspective
If Intel hadn't wasted money tilting at windmills in the mobile market, their profit would have been almost 36% higher. Their stock price would be a lot higher too.
Even if Intel is someday able to make people want to buy Atom without essentially giving them away for free (which they're doing today with their "contra revenue") the margins in that market are much thinner than they are in the PC market. It dilutes their overall results, and will never be a huge profit center like the PC market.
It is kind of funny and kind of sad at the same time seeing Microsoft and Intel constantly struggle trying to expand beyond their PC market. Microsoft loses billions on boondoggles like MSN, Bing and XBox, Intel loses billions on Itanium and mobile SoCs. The sad fact is both are almost completely dependent on the PC market - both making over 100% of their profit in that market segment. If there's ever a true disruption that hurts that market, both are going to be in serious trouble.