ASML Beats Q2 Earnings Expectations With Strong China Sales, AI Chip Demand
ASML Holding NV (NASDAQ:ASML), the leading supplier of equipment to computer chip manufacturers, has exceeded second-quarter earnings forecasts, driven by robust sales in China and a surge in new bookings.
What Happened: The Dutch company reported a second-quarter net income of 1.6 billion euros ($1.75 billion) on revenues of 6.2 billion euros ($6.77 billion), surpassing analysts’ expectations of 1.41 billion euros on revenue of 6.04 billion euros, Reuters reported on Wednesday.
The new bookings for the quarter stood at 5.6 billion euros ($6.11 billion), a significant increase from the 3.6 billion euros in the first quarter of 2024.
Christophe Fouquet, the new CEO, described 2024 as a “transition year,” with the company’s performance expected to remain flat as it gears up for a strong 2025. He attributed the industry’s recovery and growth to significant advancements in AI.
Despite the impressive …
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