ASML beats earnings forecasts, sees 2023 growth amid China worries

VELDHOVEN, Netherlands :ASML Holding NV, Europe's largest technology company, beat fourth-quarter earnings forecasts on Wednesday and forecast a rise more than 25 per cent in 2023 sales despite possible new curbs on its exports to China.

CEO Peter Wennink said that although the economic outlook for 2023 is clouded by worries over the economy and growing semiconductor inventories, customers also see conditions improving toward the end of the year and China's economy recovering after the end of COVID-19 curbs.The numbers come a week after U.S. President Joe Biden and Dutch Prime Minister Mark Rutte discussed possible new export restrictions on some of ASML's sales to customers in China due to security concerns.

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