Customers Adjust Orders After ASML Exceeds First-Quarter Earnings Estimates

(CTN News) – There is no doubt that ASML Holding NV, one of the world’s leading suppliers of computer chips, reported on Wednesday that its earnings for the first quarter of the year exceeded its expectations, as its products were delivered quickly despite signs of weakness in the market.

As a result, the company was able to generate a net profit of 1.96 billion euros ($2.15 billion) for the quarter ended March 31, almost three times more than its net profit of 695 million euros a year ago.

At 6.74 billion euros, the company’s revenue increased by 91% to reach $6.74 billion.

Refinitiv data shows that analysts had predicted a net profit of 1.62 billion euros on revenue of 6.31 billion euros, which translates to a net profit of 1.62 billion euros.

According to ASML’s CEO despite the fact that there are a number of customers that are adjusting their timing of receiving tools or otherwise taking note of the changed situation, the outlook for the company remains positive, despite the changes.

According to him, the production capacity for this year is still exceeding our demand, and we have a backlog of orders in excess of 38.9 billion euros at the moment, referring to the current demand for this year.

As the largest technology company by market capitalization in Europe, ASML plays an important role in the semiconductor industry by being the largest manufacturer of lithography equipment, which is used in the production of the minute circuitry that houses the semiconductor chip.

What does ASML stand for?

Advancing semiconductor materials lithography

As a joint venture between Philips and ASM International in 1984, ASML was named ‘Advanced Semiconductor Materials Lithography’ (ASM Lithography). The purpose was to reflect the joint venture partners. Eventually, this name became simply ‘ASML’.

Who is ASML’s largest competitor?

• The Taiwan Semiconductor Manufacturing Company (TSMC)

• Analog Devices.

• KLA Corporation.

• Nikon Corporation.

• Intel.

• Canon Inc.

• Axcelis Technologies, Inc.

• Veeco.

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