October 20, 2021
Amsterdam (Reuters)-A major supplier of computer chip makers, ASML Holding NV has a slightly higher-than-expected quarterly net income of € 1.74 billion ($ 2 billion) on Wednesday amid strong demand for products and a global shortage of semiconductors. Was recorded.
Analysts predicted net income for the third quarter ending September 30 to be € 1.6 billion, according to Refinitiv data.
Revenue was € 5.24 billion. In the third quarter of 2020, ASML reported a net profit of € 1.1 billion against a revenue of € 3.96 billion.
“Demand remains high,” CEO Petter Wennink said in a statement.
According to Wennink, digital transformation and chip shortages have increased the need for more capacity to meet current and anticipated future demand for both logic and memory chips.
ASML dominates the market for lithography systems, which cost up to € 150 million per unit and use focused rays to assist in the creation of semiconductor circuits.
The company forecasts fourth-quarter sales of € 4.9-5.2 billion on Wednesday with a gross profit of 51% -52%. Wennink repeated its year-round target of 35% sales growth.
At a meeting with investors in September, the company said it was benefiting from the “megatrend” of the electronics industry, raising long-term forecasts and achieving full-year sales of € 2.4-30 billion ($ 28 billion- $ 35 billion). It is expected to reach the dollar). By 2025, gross profit was up to 55%.
The company is expanding its capabilities as semiconductor manufacturers expand their capabilities to address the global chip shortage. Key customers include all major chip makers such as TSMC, Samsung and Intel.
ASML’s stock is Europe’s largest technology company, reflecting a strong outlook for a market capitalization of around € 280 billion.
Shares closed at € 683 in Amsterdam on Tuesday, surpassing the sector with a 72% surge since the beginning of the year.
($ 1 = 0.8585 euros)
(Report by Toby Sterling; edited by Jacqueline Wong and Subhranshu Sahu)
ASML exceeds analysts’ estimates of third-quarter profits in a chip shortage
Source link ASML exceeds analysts’ estimates of third-quarter profits in a chip shortage