ASML Holding NV (NASDAQ:ASML), the leading Dutch semiconductor equipment manufacturer, reported impressive second-quarter earnings that surpassed expectations on strong Chinese demand.
The company's net profit surged by 35% year-on-year, reaching 1.9 billion euros, while sales increased by 28% to 6.9 billion euros.
Analysts had pinned the profit figure at 1.82 billion euros on sales of 6.74 billion euros, according to Refinitiv.
As a result, ASML raised its full-year sales growth forecast to 30%, up from the previous 25%.
However, US-listed shares of the semiconductor company fell 2.6% at the opening bell on Wednesday.
Despite macroeconomic uncertainties impacting customer caution, CEO Peter Wennink expressed confidence in ASML's solid order backlog of around 38 billion euros ($42.6 billion), providing a strong foundation to navigate short-term challenges.
ASML's dominating position in the market for lithography systems, critical in chip manufacturing, has spurred the need for expansion to meet overwhelming customer demand.
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