Intel Says US Commerce Department Revokes Licenses for Exports of Certain Items to Chinese Customer

By Denny Jacob

Intel disclosed that the U.S. Department of Commerce revoked certain licenses for exports of certain items to a customer in China.

The chip-maker expects revenue for the second quarter to remain in the original range of $12.5 billion and $13.5 billion, but below the midpoint, as a result, according to a securities filing.

For 2024, Intel continues to expect revenue and earnings per-share to grow year-over-year compared to 2023.

Intel's disclosure comes a day after the Financial Times reported the Biden administration revoked licenses that allow tech companies such as Qualcomm and Intel to supply Huawei with chips.

Write to Denny Jacob at [e-mail]

(END) Dow Jones Newswires

05-08-24 0845ET