Intel (INTC) Sees Revenue Below Midpoint of Guidance Range After U.S. Revokes China Export Licenses

Intel (NASDAQ: INTC) disclosed:

On May 7, 2024, the U.S. Department of Commerce informed Intel Corporation (the “Company”) that it was revoking certain licenses for exports of consumer-related items to a customer in China, effective immediately. As a result, the Company expects revenue for the second quarter of 2024 to remain in the original range of $12.5 billion to $13.5 billion, but below the midpoint. For full year 2024, the Company continues to expect revenue and earnings per share to grow year-over-year compared to 2023.

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