ASML beats earnings estimates despite signs of weakness

AMSTERDAM : ASML Holding NV, a key supplier to computer chip makers, reported better than expected first-quarter earnings on Wednesday despite signs of weakness in chip markets.

ASML posted a threefold jump in net profit to 1.96 billion euros on revenue up 91 per cent at 6.74 billion euros. Analysts had forecast net profit of 1.62 billion euros on revenue of 6.31 billion euros, Refinitiv data shows."Overall demand still exceeds our capacity for this year and we currently have an backlog of over 38.9 billion euros," CEO Peter Wennink said in a statement.

It has struggled to meet demand as top customers TSMC , Samsung and Intel continue to spend billions on expansion.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

ASML beats Q1 earnings estimates, customers 'adjusting' orders due to chip marketAMSTERDAM :ASML Holding NV, a key supplier to computer chip makers, on Wednesday reported first quarter earnings that beat expectations, as customers received its products at swift clip despite signs of weakness in end markets.The company's net profit for the quarter ended March 31 was 1.96 billion euros ($2.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »