{"id":15537,"date":"2023-04-19T13:15:26","date_gmt":"2023-04-19T13:15:26","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/asml-reports-better-than\/"},"modified":"2023-04-19T13:20:23","modified_gmt":"2023-04-19T13:20:23","slug":"asml-beats-estimates-but","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/asml-beats-estimates-but\/","title":{"rendered":"ASML beats estimates but sees some chipmaker caution"},"content":{"rendered":"<p>By Toby Sterling<\/p>\n<p>AMSTERDAM (Reuters) -ASML Holding NV beat first-quarter earnings forecasts on Wednesday on continued strong demand for its chip making equipment, but noted some signs of caution among customers. <\/p>\n<p>The comments from Europe&#8217;s biggest tech firm follow news that Samsung will cut production because of a downturn in semiconductor demand, while memory chip makers SK Hynix and Micron have cut spending plans.<\/p>\n<p>ASML posted a threefold jump in net profit to 1.96 billion euros ($2.15 billion) on revenue up 91% 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. <\/p>\n<p>The Dutch company is required from this summer to restrict exports of some equipment to China, after the Netherlands joined a drive by the United States to restrict supplies to Beijing that might have &#8220;dual use&#8221; military applications.<\/p>\n<p>ASML said sales to China dipped in the first quarter but were expected to be stronger through the rest of 2023, and added its outlook remained strong despite client belt-tightening.<\/p>\n<p>&#8220;Overall demand still exceeds our capacity for this year and we currently have an (order) backlog of over 38.9 billion euros,&#8221; CEO Peter Wennink said in a statement.<\/p>\n<p>ASML plays a key role in the semiconductor industry because it dominates the market for lithography equipment used to create the minute circuitry of chips.<\/p>\n<p>It has struggled to meet demand as customers TSMC, Samsung and Intel spend billions on expansion.<\/p>\n<p>&#8220;In our opinion, neither 2023 or 2024 estimates at the company are at risk,&#8221; JPMorgan said in a note.<\/p>\n<p>ASML shares were down 2.5% to 574.00 euros at 0800 GMT, but are up more than 10% year-to-date. <\/p>\n<p>The company kept a forecast for 25% sales growth this year, with sales of 6.5-6.7 billion euros in the second quarter.<\/p>\n<p>Finance chief Roger Dassen said some major companies were &#8220;delaying the timing of their demand for certain tools&#8221; but others were taking their orders.<\/p>\n<p>\u00a0\u00a0\u00a0 &#8220;For memory customers, we do see them limiting their capex &#8230; (and) we see some of that behaviour also in certain segments of logic,&#8221; he said, referring to the two largest categories of computer chips.<\/p>\n<p>($1 = 0.9118 euros)<\/p>\n<p> (Reporting by Toby SterlingEditing by David Goodman and Mark Potter)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/asml-beats-estimates-but\/illustration-shows-asml-logo\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportTechnologyNews\/tagreuters.com2023binary_LYNXMPEJ3I03D-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ3I03D-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Toby Sterling AMSTERDAM (Reuters) -ASML Holding NV beat first-quarter earnings forecasts on Wednesday on continued strong demand for its chip making equipment, but noted some signs of caution among customers. The comments from Europe&#8217;s biggest tech firm follow news that Samsung will cut production because of a downturn in semiconductor demand, while memory chip [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":15538,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1220],"tags":[1223],"class_list":["post-15537","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-technology","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportTechnologyNews\/tagreuters.com2023binary_LYNXMPEJ3I03D-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/15537","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=15537"}],"version-history":[{"count":5,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/15537\/revisions"}],"predecessor-version":[{"id":16040,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/15537\/revisions\/16040"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/15538"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=15537"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=15537"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=15537"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}