ASML brand is seen on the headquarters in Veldhoven, Netherlands, June 16, 2023.
Piroschka Van De Wouw | Reuters
ASML reported second-quarter earnings and gross sales that beat forecasts because it continues to see a restoration in demand for its machines which are required to make the world’s most superior chips.
This is how ASML did versus LSEG consensus estimates:
- Web gross sales: 6.24 billion euros ($6.8 billion) versus 6.03 billion euros anticipated
- Web revenue: 1.58 billion euros versus 1.43 billion euros anticipated
ASML beforehand forecast second-quarter internet gross sales of between 5.7 billion euros and 6.2 billion euros.
The Dutch agency is likely one of the most necessary semiconductor firms on the earth, producing instruments generally known as excessive ultraviolet (EUV) lithography machines, that are required to fabricate essentially the most superior chips.
ASML has beforehand known as 2024 a “transition” yr because it expects the semiconductor trade to begin to recuperate after a troublesome 2023.
The corporate additionally faces geopolitical headwinds. Following strain from the U.S., the Dutch authorities final yr launched curbs on the export of superior semiconductor gear — together with ASML’s equipment.
ASML beforehand mentioned that export restrictions would influence 10% to fifteen% of it is China gross sales this yr.
As semiconductor shares throughout the board have rallied this yr, ASML has additionally seen its share value lifted 44%.
It is a breaking information story. Please refresh for updates.
