ASML Reports Strong Q3 2023 Profit but Forecasts Flat Revenue for 2024
The post ASML Reports Strong Q3 2023 Profit but Forecasts Flat Revenue for 2024 appeared on BitcoinEthereumNews.com. ASML is taking a conservative view of 2024, with revenue projections similar to 2023. ASML Holding NV (NASDAQ: ASML), one of the world’s leading semiconductor firms has reported a significant year-on-year rise in profit for the third quarter of 2023, exceeding analyst expectations. However, the company forecasts that its revenue in 2024 will remain flat. This comes as the semiconductor industry experiences a period of uncertainty, with ASML CEO Peter Wennink acknowledging the ongoing challenges faced by the market in a recent report. ASML Third Quarter Q3 Profit In the third quarter of 2023, ASML reported net sales of 6.67 billion euros, slightly lower than the 6.71 billion Euros expected by analysts. Despite this, net sales saw a notable 15.5% increase from the 5.78 billion Euros reported during the same period the previous year. Net profit for the same quarter reached 1.89 billion Euros, surpassing the anticipated 1.8 billion Euros. This represented an 11% growth in net profit compared to the third quarter of 2022. It’s important to note that ASML’s third-quarter figures reflected a decline from its second-quarter results. The company, which plays a crucial role in the semiconductor industry, is known for its role in manufacturing the tools required to create the most advanced chips in the world. According to Wennink, “the semiconductor industry is currently working through the bottom of the cycle, and our customers expect the inflection point to be visible by the end of this year.” ASML is taking a conservative view of 2024, with revenue projections similar to 2023. Wennink mentioned, “But we also look at 2024 as an important year to prepare for significant growth that we expect for 2025.” The conservative projection has riled investors as the firm’s shares plunged by 2.73% in the pre-market to $591.70 Market Challenges The semiconductor market…
The post ASML Reports Strong Q3 2023 Profit but Forecasts Flat Revenue for 2024 appeared on BitcoinEthereumNews.com.
ASML is taking a conservative view of 2024, with revenue projections similar to 2023. ASML Holding NV (NASDAQ: ASML), one of the world’s leading semiconductor firms has reported a significant year-on-year rise in profit for the third quarter of 2023, exceeding analyst expectations. However, the company forecasts that its revenue in 2024 will remain flat. This comes as the semiconductor industry experiences a period of uncertainty, with ASML CEO Peter Wennink acknowledging the ongoing challenges faced by the market in a recent report. ASML Third Quarter Q3 Profit In the third quarter of 2023, ASML reported net sales of 6.67 billion euros, slightly lower than the 6.71 billion Euros expected by analysts. Despite this, net sales saw a notable 15.5% increase from the 5.78 billion Euros reported during the same period the previous year. Net profit for the same quarter reached 1.89 billion Euros, surpassing the anticipated 1.8 billion Euros. This represented an 11% growth in net profit compared to the third quarter of 2022. It’s important to note that ASML’s third-quarter figures reflected a decline from its second-quarter results. The company, which plays a crucial role in the semiconductor industry, is known for its role in manufacturing the tools required to create the most advanced chips in the world. According to Wennink, “the semiconductor industry is currently working through the bottom of the cycle, and our customers expect the inflection point to be visible by the end of this year.” ASML is taking a conservative view of 2024, with revenue projections similar to 2023. Wennink mentioned, “But we also look at 2024 as an important year to prepare for significant growth that we expect for 2025.” The conservative projection has riled investors as the firm’s shares plunged by 2.73% in the pre-market to $591.70 Market Challenges The semiconductor market…
What's Your Reaction?
