By Elena Vardon

ASML Holding said it expects revenue next year to be similar to 2023 given uncertainty around demand recovery in the semiconductor industry but posted better-than-expected net income for the third quarter.

"The semiconductor industry is currently working through the bottom of the cycle and our customers expect the inflection point to be visible by the end of this year," Chief Executive Officer Peter Wennink said, adding 2024 is seen as a transition year.

The Amsterdam-listed group on Wednesday posted a net income for the third quarter of 1.89 billion euros ($2.0 billion) compared with EUR1.94 billion for the same period last year. Analysts polled by FactSet had expected EUR1.82 billion.

The Dutch semiconductor-equipment maker confirmed it expects net sales to grow 30% on year in 2023, with a slight improvement in gross relative margin. It had posted EUR13.6 billion in net sales and a 49.1% gross margin for 2022.

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

October 18, 2023 01:41 ET (05:41 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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