ASML: exceeds expectations in Q1
(CercleFinance.com) - On Wednesday ASML reported better-than-expected quarterly profit, helped by particularly strong demand that the Dutch semiconductor supplier said exceeded its production capacity.
The company posted Q1 sales of 3.5 billion euros, with net profit reaching 695 million euros, i.e. EPS of 1.73 euros, above Oddo BHF's EPS estimate of 1.65 dollars, and their sales forecasts of around 3.4 billion euros.
ASML says it expects Q2 sales of 5.1 and 5.3 billion euros, with an expected gross margin of 49% to 50%.
Booking seven billion euros in new orders in Q1, the group says that demand for its machines, used by chipmakers, is currently outstripping its operational capacity; it says that it is currently working with its suppliers to increase its production capacity.
ASML shares are up 3% on the Amsterdam Stock Exchange, making it the third biggest winner in early trading today.
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