Intel (INTC) updated its Q2 outlook after the US Commerce Department notified the company Tuesday that it was revoking certain licenses for exports of consumer-related items to a customer in China, effective immediately.
As a result, the company now expects Q2 revenue to remain in the original range of $12.5 billion to $13.5 billion but below the midpoint, according to a regulatory filing. For full-year 2024, Intel continues to expect revenue and earnings per share to grow year over year versus 2023.