(Reuters) – Semiconductor equipment manufacturer ASM International beat its third quarter revenue guidance Tuesday, with a strong contribution from the Chinese market.
The Dutch group reported 622.3 million euros ($659.14 million) in revenue during the quarter, against an initial target of between 580 and 620 million euros.
ASMI’s third quarter revenue is up from 609.8 million euros last year and above the 601.92 million euros expected by analysts, according to LSEG data.
“ASM delivered robust results amidst continued soft market conditions,” president and chief executive Benjamin Loh said in a statement.
New orders came in at 627.4 million euros, below last year’s 675.5 million euros but near the top-end of the group’s guidance for the quarter.
Fellow Dutch semiconductor equipment maker ASML Holding NV last week reported lower-than-expected orders in the third quarter and warned of flat sales in 2024.
($1 = 0.9441 euros)
(Reporting by Victor Goury-Laffont Editing by Alison Williams and Mark Potter)
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