(Reuters) – Merck KGaA is seeing a faster-than-expected improvement in its semiconductor materials business, the German pharma and technology company said on Thursday.
It has seen an inflection point in the second quarter for advanced nodes and materials for AI applications, it said, having previously said it expected a recovery in the semiconductor market in the second half of the year.
Merck’s semiconductor solutions business, which makes up 69% of its Electronics business, the smallest of its three divisions, posted a 10.4% rise in second-quarter net sales, beating analysts’ expectations.
Raising its full year guidance for Electronics on Thursday, Merck said it expects “the remaining semiconductor materials market to gradually recover” in the second half of the year.
Merck had already raised group guidance last week when it pre-reported its earnings.
(Reporting by Marleen Kaesebier and Patricia Weiss; editing by Jason Neely)
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