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Old August 8th, 2013 (7:30 AM).
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PlatinumDude PlatinumDude is offline
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Join Date: Aug 2010
Location: Canada
Age: 23
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It's hard to explain in words, but Bulbapedia sums it up:

Originally Posted by Bulbapedia
Pokémon can now gain effort values from battling even at Level 100, and stats are recalculated at the end of every battle instead of only after leveling up, much like Deoxys in the Generation III games. When a Pokémon is defeated, EVs do not get added until after all experience points have been added (if the Pokémon levels up more than once, the second level it gains will have new EVs calculated into it); if a Pokémon levels up in the middle of a battle, its stats will update assuming there are EVs to add from a previously defeated opponent, but EVs from the opponent that caused it to level up will not be added until after the experience points have been completely added