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    HomeNewsBusinessIntel flags revenue hit as US revokes certain export licenses to Chinese customer

    Intel flags revenue hit as US revokes certain export licenses to Chinese customer

    Intel did not disclose the name of the Chinese customer in its filing with the Securities and Exchange Commission

    Reuters
    May 08, 2024 / 17:53 IST
    Intel flags revenue hit as US revokes certain export licenses to Chinese customer

    Chipmaker Intel said on Wednesday the U.S. Department of Commerce was revoking certain export licenses for its consumer-related items to a customer in China, a move that would impact its second-quarter revenue.

    Intel did not disclose the name of the Chinese customer in its filing with the Securities and Exchange Commission.

    Reuters had reported on Tuesday the U.S. has revoked licenses that allowed companies, including Intel and Qualcomm, to ship chips used for laptops and handsets to sanctioned Chinese telecoms equipment maker Huawei Technologies.

    Intel said it still expects revenue for the second quarter to remain in the range of $12.5 billion to $13.5 billion, but below the midpoint.

     

    Reuters
    first published: May 8, 2024 05:53 pm

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