ASML Orders Beat Forecasts Amid AI Chip Boom — Update
By Mauro Orru
ASML Holding posted orders above analysts' expectations as chip makers rush to get their hands on key production equipment to meet booming demand for artificial intelligence.
The Dutch group, which supplies semiconductor-making machinery to chip makers, booked 5.57 billion euros ($6.07 billion) in orders in the three months to the end of June, up from EUR4.50 billion a year earlier. Analysts had forecast nearly EUR5.04 billion in orders, according to consensus estimates by Visible Alpha.
Sales declined to EUR6.24 billion from EUR6.90 billion, beating analysts' forecasts and company guidance. For the current quarter, the group expects sales between EUR6.7 billion and EUR7.3 billion.
Net profit slipped to EUR1.58 billion from EUR1.94 billion, beating analysts' forecasts.
Gross profit--a closely watched metric for companies operating in the semiconductor industry--came in at EUR3.21 billion, generating a 51.5% margin that beat consensus and company guidance. For the current quarter, ASML is forecasting a gross margin between 50% and 51%.
This year, ASML is expecting sales to be similar to the EUR27.56 billion that it reported for 2023.
Write to Mauro Orru at mauro.orru@wsj.com
(END) Dow Jones Newswires
July 17, 2024 01:35 ET (05:35 GMT)
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