Dutch technology giant ASML Holding NV (NASDAQ:ASML), the supplier of high-end lithographic machinery used to manufacture computer chips, had another strong quarter, with sales reaching the high-end of guidance at €6.2 billion (£5.2 billion).
It marks an 18% year on year increase in revenues, net income coming in 29% higher at €1.6 billion.
ASML is the global leader in extreme ultraviolet (EUV) lithography, which is an essential cog in the manufacture of cutting-edge silicon-based microchips.
As with many companies in the chipmaking supply chain, ASML has benefitted from the surge in chip demand to feed the exponentially growing artificial intelligence industry.
ASML sold 89 new lithography systems in the second quarter, up from 66 in the second quarter of 2023.
Each machine sells for hundreds of millions of dollars, while ASML also benefits from post-purchase services to its installed base.
The group estimates total sales in the third quarter to come between €6.7 billion and €7.3 billion.
“We see 2024 as a transition year with continued investments in both capacity ramp and technology,” said chief executive Christophe Fouquet.
He added: “We currently see strong developments in AI, driving most of the industry recovery and growth, ahead of other market segments.”