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Follow us on FacebookASML does better than analysts expect
@ 2021/10/21Huge profits strong demand
ASML, which makes most of the world’s chip making equipment, has reported better profits than the cocaine nose jobs of Wall Street predicted.
The company posted a quarterly net income of 1.74 billion euro amid strong demand for its products and a global semiconductor shortage.
Analysts had forecast a net income of 1.6 billion euro for the third quarter ended 30 September.
Revenue came in at 5.24 billion euro. In the third quarter of 2020, ASML had reported a net income of 1.1 billion euro on revenue of 3.96 billion euro.
Chief Executive Officer Petter Wennink said that demand continues to be high and he previously expected his company to be flat out for the next decade.
Digital transformation and chip shortages fuel the need to increase capacity to meet the current and expected future demand for both logic and memory chips, Wennink said.
ASML dominates the market for lithography systems, machines that cost up to 150 millio euros each and that use focused beams of light to help create the circuitry of semiconductors.
ASML, which makes most of the world’s chip making equipment, has reported better profits than the cocaine nose jobs of Wall Street predicted.
The company posted a quarterly net income of 1.74 billion euro amid strong demand for its products and a global semiconductor shortage.
Analysts had forecast a net income of 1.6 billion euro for the third quarter ended 30 September.
Revenue came in at 5.24 billion euro. In the third quarter of 2020, ASML had reported a net income of 1.1 billion euro on revenue of 3.96 billion euro.
Chief Executive Officer Petter Wennink said that demand continues to be high and he previously expected his company to be flat out for the next decade.
Digital transformation and chip shortages fuel the need to increase capacity to meet the current and expected future demand for both logic and memory chips, Wennink said.
ASML dominates the market for lithography systems, machines that cost up to 150 millio euros each and that use focused beams of light to help create the circuitry of semiconductors.
