ASML earnings report Q1 2024

107133796 1665657140922 gettyimages 957830374 AFP 14N6HC

107133796 1665657140922 gettyimages 957830374 AFP 14N6HC

President Joe Biden’s administration is set to urge the Netherlands next week to prevent its top chipmaking equipment maker ASML from servicing some tools in China. This move comes as the U.S. seeks support from allies to weaken Beijing’s tech sector. ASML reported that its first-quarter profit exceeded expectations, although sales fell short of forecasts. The company maintained its full-year outlook for 2024. Net sales for ASML in the first quarter totaled 5.29 billion euros, while net profit reached 1.22 billion euros. Net sales declined by 21.6% year-on-year, and net income fell by 37.4%. The company anticipates a stronger second half of the year as the industry continues to recover from a downturn. ASML’s net bookings for machinery in the first quarter amounted to 3.6 billion euros, decreasing by 4% year-on-year and dropping significantly from the previous quarter. ASML is a crucial player in the semiconductor industry, manufacturing extreme ultraviolet lithography machines needed for producing advanced chips globally. While demand for consumer electronics has been weak, leading to a slight decrease in ASML’s equipment demand, some semiconductor companies like Samsung are experiencing a rebound in demand. ASML expects its net sales for 2024 to be similar to 2023, with reported net sales of 27.6 billion euros in the previous year.

President Joe Biden’s administration plans to urge the Netherlands to stop ASML, a top chipmaking equipment maker, from servicing some tools in China, as part of its efforts to limit Beijing’s tech sector growth. ASML recently reported that its first quarter profit beat expectations while sales fell short, with net sales totaling 5.29 billion euros and net profit at 1.22 billion euros. ASML remains optimistic about the full year outlook, expecting a stronger second half of the year as the industry continues to recover. Despite a decrease in net bookings, ASML is known for producing important tools required for manufacturing advanced chips, and is positioning itself for a transition year in 2024 with continued investments in capacity ramp and technology. The company expects net sales for 2024 to be similar to 2023, which reached 27.6 billion euros.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

scroll to top