Shares of critical chip firm ASML drop 5% as sales miss expectations with 22% fall
Publishing timestamp: 2024-04-17 10:36:15
Summary
ASML reported first quarter profit beating expectations but sales missing forecasts. The company reiterated its full-year outlook for 2024, calling it a "transition year." ASML's stock fell around 4.5% after the results were announced. The company's net sales and net profit were slightly below consensus estimates. ASML's machinery bookings dropped in the first quarter, but semiconductor firms like Samsung are seeing a rebound in demand. Concerns were raised about the decline in orders and the impact of export restrictions to China. ASML remains optimistic about the industry's recovery and the ramping up of production capacity by major chip manufacturers.
Sentiment: MIXED
Keywords: technology, china, earnings, breaking news: technology, asml holding nv, business news, united states, intel corp,
Source: https://www.cnbc.com/2024/04/17/asml-earnings-report-q1-2024.html