Dutch firm ASML makes one of the most important pieces of machinery required to manufacture the most advanced chips in the world. U.S. chip curbs have left companies, including ASML, scrambling to figure out what the rules mean in practice.
Emmanuel Dunand | AFP | Getty Images
Chip equipment firm ASML reported a year-on-year rise in profit in the third quarter and beat analyst estimates, but forecast 2024 revenue will be flat.
Here’s how ASML did in the third quarter versus LSEG estimates:
- Net sales: 6.67 billion euros ($7.1 billion) versus 6.71 billion euros expected
- Net profit: 1.89 billion euros versus 1.8 billion euros expected
Net sales rose 15.5% from the 5.78 billion euro reported in the same period a year earlier. Net profit jumped around 11% from the 1.7 billion euros reported in the same period a year earlier.
Both third-quarter figures marked a decline from second-quarter results.
ASML is one of the most important semiconductor firms in the world, producing machines that are required to manufacture the most advanced chips globally.
The Dutch company has also been caught up in the tensions over technology between the U.S. and China because of the importance of its tools.
In June, the Netherlands — where ASML is headquartered — introduced its own export restrictions on advanced semiconductor equipment, with companies now requiring a government license to take certain technologies abroad.
This came after the U.S. introduced its own sweeping restrictions on technology exports to China, and as Washington urged allies to follow suit.
ASML has maintained that these measures are unlikely to impact its 2023 financial results.