ASML reports better third-quarter sales, China growth to continue despite U.S.

In this news, we discuss the ASML reports better third-quarter sales, China growth to continue despite U.S..

AMSTERDAM (Reuters) – ASML Holding NVASML.AS, the maker of semiconductor equipment, reported better-than-expected third-quarter profits on Wednesday, claiming double-digit growth in 2021.

The company posted revenue of 3.96 billion euros, ahead of analysts’ estimates of 3.7 billion euros, and a net profit of 1.06 billion euros.

ASML CFO Roger Dassen forecasted fourth quarter revenue of € 3.7 billion and said the company expected “double-digit” growth in 2021. Trade restrictions US sales to certain Chinese companies will mean ASML will have to apply for a license to sell the old equipment to those companies.

Yet he raised his forecast for sales to China this year from around € 1 billion to “just over a billion” in 2020.

In the third quarter of 2019, ASML achieved a net profit of 627 million euros on a turnover of 3.0 billion euros.

Reporting by Toby Sterling; Editing by Clarence Fernandez

Original © Thomson Reuters Corporation

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