By Toby Sterling and Nathan Vifflin
AMSTERDAM (Reuters) -ASML, the largest equipment supplier to computer chip makers, reported better-than-expected second-quarter earnings on Wednesday on strong sales to China and higher new bookings than in the first quarter of 2024.
ASML reported second-quarter net income of 1.6 billion euros on revenues of 6.2 billion euros. Analysts had expected 1.41 billion euros on revenue of 6.04 billion euros, according to LSEG data.
The company’s new CEO Christophe Fouquet said in a statement that the company continues to view 2024 as a “transition year” in which its performance will be about flat as it prepares for a strong 2025.
“We currently see strong developments in AI, driving most of the industry recovery and growth, ahead of other market segments,” he said in a statement.
ASML’s closely watched new bookings increased to 5.6 billion euros ($6.11 billion) from 3.6 billion euros in the first quarter of 2024, with about half of that coming from the company’s most advanced EUV product lines — vital in the manufacture of AI chips and smartphones.
Analysts had expected the company’s order book to increase by about 5 billion euros, according to estimates compiled by Visible Alpha.
The second-quarter numbers were lower than in the same period a year earlier, when net income was 1.94 billion euros and sales were 6.90 billion euros.
($1 = 0.9171 euros)
(Reporting by Toby Sterling; Editing by Tom Hogue and Janane Venkatraman)
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