Cautious Outlook for Growth Beyond 2026
"Even with Solid Fundamentals for AI Clients,
Macroeconomic and Geopolitical Uncertainties Remain"
Christoph Pueke, Chairman and CEO of ASML, announced the fourth quarter results on January 29 (local time). Photo by Reuters Yonhap News
ASML, the world's largest semiconductor equipment manufacturer, announced on July 15 (local time) that its second-quarter revenue exceeded market expectations. However, the third-quarter revenue guidance released on the same day fell short of market forecasts.
According to U.S. business media outlet CNBC, ASML reported a net profit of 2.209 billion euros in the second quarter, surpassing the expected 2.04 billion euros. Net sales reached 7.7 billion euros, above the forecast of 7.52 billion euros, and order intake also came in at 5.5 billion euros, easily exceeding the expected 4.19 billion euros.
Previously, on April 2, ASML provided second-quarter revenue guidance in the range of 7.2 billion to 7.7 billion euros, and the company achieved results at the upper end of this range.
Roger Dassen, Chief Financial Officer, cited revenue from upgrades to already installed equipment, as well as lower-than-expected tariff impacts, as the reasons behind the strong second-quarter results in a pre-recorded video.
For the third quarter, the company provided guidance below market expectations. ASML projected third-quarter revenue in the range of 7.4 billion to 7.9 billion euros, lower than the market forecast of 8.3 billion euros. For the full year 2025, the company expects annual sales growth of 15%. CNBC noted that this is somewhat reduced compared to the previous guidance of 30 billion to 35 billion euros in sales.
The company maintained a cautious outlook for growth beyond 2026. In a statement, Chairman and CEO Christoph Pueke said, "The fundamentals for our AI customers remain solid, but macroeconomic and geopolitical uncertainties are increasing." He added, "We are preparing for growth in 2026, but at this point, we cannot provide certainty."
ASML is a Dutch company and the only manufacturer in the world of extreme ultraviolet (EUV) lithography equipment, with major customers including Apple, Nvidia, Intel, and TSMC.
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