AIRLINK 188.70 Decreased By ▼ -0.06 (-0.03%)
BOP 13.15 Decreased By ▼ -0.08 (-0.6%)
CNERGY 7.20 Decreased By ▼ -0.06 (-0.83%)
FCCL 39.81 Increased By ▲ 1.10 (2.84%)
FFL 15.23 Increased By ▲ 0.39 (2.63%)
FLYNG 25.80 Decreased By ▼ -0.08 (-0.31%)
HUBC 134.00 Decreased By ▼ -0.41 (-0.31%)
HUMNL 13.40 Increased By ▲ 0.07 (0.53%)
KEL 4.53 Increased By ▲ 0.30 (7.09%)
KOSM 6.60 Increased By ▲ 0.75 (12.82%)
MLCF 47.15 Increased By ▲ 0.26 (0.55%)
OGDC 206.37 Increased By ▲ 0.63 (0.31%)
PACE 6.22 Increased By ▲ 0.14 (2.3%)
PAEL 38.42 Decreased By ▼ -0.66 (-1.69%)
PIAHCLA 16.90 Increased By ▲ 0.05 (0.3%)
PIBTL 8.02 Increased By ▲ 0.18 (2.3%)
POWER 10.81 Increased By ▲ 0.10 (0.93%)
PPL 175.40 Increased By ▲ 0.79 (0.45%)
PRL 33.74 Increased By ▲ 0.06 (0.18%)
PTC 23.20 Increased By ▲ 0.12 (0.52%)
SEARL 97.96 Decreased By ▼ -0.56 (-0.57%)
SILK 1.11 Decreased By ▼ -0.01 (-0.89%)
SSGC 31.17 Decreased By ▼ -0.31 (-0.98%)
SYM 18.08 Increased By ▲ 0.42 (2.38%)
TELE 8.29 Increased By ▲ 0.23 (2.85%)
TPLP 12.35 Increased By ▲ 0.15 (1.23%)
TRG 62.06 Increased By ▲ 1.76 (2.92%)
WAVESAPP 11.90 Increased By ▲ 0.08 (0.68%)
WTL 1.48 Decreased By ▼ -0.02 (-1.33%)
YOUW 4.20 Increased By ▲ 0.34 (8.81%)
BR100 11,997 Increased By 79.6 (0.67%)
BR30 35,477 Increased By 158.2 (0.45%)
KSE100 113,957 Increased By 868.8 (0.77%)
KSE30 35,531 Increased By 221.9 (0.63%)
Business & Finance Print 2023-01-30

ASML beats earnings forecasts

VELDHOVEN (Netherlands): ASML Holding NV, Europe’s largest technology company, beat fourth-quarter earnings...
Published January 30, 2023

VELDHOVEN: ASML Holding NV, Europe’s largest technology company, beat fourth-quarter earnings forecasts on Wednesday and forecast a rise more than 25% in 2023 sales despite possible new curbs on its exports to China. The maker of equipment to produce semiconductors has struggled to meet demand as top customers TSMC, Samsung and Intel are all engaged in major expansions. It said its order backlog had grown to a record 40 billion euros ($43.62 billion) at the end of the year.

Credit Suisse analysts said the earnings may be “taken negatively” by the market, given recent rallies in the company’s share price, up 22% in January and up 55% from October lows.“However, ASML’s structural prospects remain unchanged,” they said in a note.

CEO Peter Wennink said that although the economic outlook for 2023 is clouded by worries over the economy and growing semiconductor inventories, customers also see conditions improving toward the end of the year and China’s economy recovering after the end of COVID-19 curbs. “That means that the demand is still higher than what we can make,” he said.

CHINA The numbers come a week after US President Joe Biden and Dutch Prime Minister Mark Rutte discussed possible new export restrictions on some of ASML’s sales to customers in China due to security concerns.

Wennink currently said “nothing has changed” regarding ASML’s exports to China despite the United States imposing new export restrictions on its own companies in October.

“”We just have to wait for the governments and the politicians to keep talking and come to a reasonable solution (on possible restrictions),” Wennink said.

Comments

Comments are closed.