ASML Inventory: Chip Gear Maker Tops Q2 Earnings Goal, Guides Increased

Semiconductor tools maker ASML (ASML) on Wednesday beat analyst estimates for earnings within the second quarter, although gross sales had been a tad mild. ASML inventory jumped on the information.




X



The Dutch firm earned the equal of $3.04 a share on gross sales of $4.84 billion within the June quarter. Wall Road had predicted ASML earnings of $3 a share on gross sales of $4.93 billion. ASML stories monetary leads to euros. In native foreign money, ASML earnings rose 41% yr over yr whereas gross sales climbed 21%.

ASML now expects gross sales to develop about 35% in 2021. It beforehand focused 30% progress this yr.

For the present quarter, it forecast gross sales of $6.24 billion, based mostly on the midpoint of its outlook. Analysts had been in search of $5.63 billion within the September quarter.

ASML Inventory Rises

In afternoon buying and selling on the inventory market at the moment, ASML inventory superior 4.2%, close to 712.50.

“The demand continues to be excessive throughout all market segments and our product portfolio,” Chief Government Peter Wennink mentioned in a information launch. “This can be a reflection of the market that’s targeted on rising capability to assist the build-up of the digital infrastructure.”

Netherlands-based ASML makes superior lithography tools for etching tiny circuits onto semiconductors.

Cowen analyst Krish Sankar mentioned ASML’s second-quarter outcomes had been largely in step with consensus estimates whereas the corporate’s third-quarter steerage was barely above views. He mentioned ASML’s bookings within the June quarter had been “spectacular.”

Sankar charges ASML inventory as outperform, or purchase.

ASML inventory is on IBD’s prestigious Leaderboard listing. It is also on the IBD 50 and World Leaders lists. Plus, ASML inventory is within the IBD Lengthy-Time period Leaders Portfolio.

Observe Patrick Seitz on Twitter at @IBD_PSeitz for extra tales on client know-how, software program and semiconductor shares.

YOU MAY ALSO LIKE:

Netflix Edges Subscriber Goal, However Earnings Disappoint

Optimism Rising On Wall Road Forward Of Apple Earnings Report

Is Microsoft Inventory A Purchase Forward Of Software program Big’s June-Quarter Earnings Report?

Discover Profitable Shares With MarketSmith Sample Recognition & Customized Screens

See Shares On The Listing Of Leaders Close to A Purchase Level


https://www.buyers.com/information/know-how/asml-stock-chip-gear-maker-tops-q2-earnings-target-guides-higher/?src=A00220&yptr=yahoo