Intel Revenue Impacted by U.S. Export License Revocation

Details

Department of Commerce revoked certain export licenses for consumer-related items to a customer in China, leading the company to expect its second-quarter 2024 revenue to remain within the original range of $12.5 billion to $13.5 billion but below the midpoint. Despite this impact, Intel still expects full-year 2024 revenue and earnings per share to grow compared to 2023.

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About Intel Corporation

Intel Corporation is a multinational corporation and technology company known for its semiconductor products. As a leader in the global semiconductor industry, Intel primarily focuses on designing and manufacturing products like microprocessors, integrated graphics, and other computing components. These semiconductors are vital for the functioning of computers, laptops, and various consumer electronic devices. Intel's products play a crucial role in fields such as data centers, computing solutions, Internet of Things (IoT), and more. The company’s innovations in semiconductor design have significant implications for technology advancement, impacting industries ranging from personal computing to automotive technology. Founded in 1968 and headquartered in Santa Clara, California, Intel Corporation has been a pivotal player in pioneering advances in technology infrastructure worldwide, continuously pushing the boundaries of processing power and efficiency to support consumer electronics and enterprise technology needs.