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 that 2024 is seen as a transition year.

The Dutch semiconductor-equipment maker 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 second quarter. Analysts polled by FactSet had expected EUR1.82 billion.

Net sales for the three-month period were EUR6.67 billion, driven by its deep ultraviolet product mix and one-off cost effects, it said. This compares with EUR6.90 billion for the previous quarter, consensus' EUR6.75 billion and was within its EUR6.5 billion to EUR7.0 billion guided range.

Gross margin for the third quarter was 51.9% compared with 51.3%, while guidance had been around 50%, it said.

For the fourth quarter, ASML said it expects to report net sales of between EUR6.7 billion and EUR7.1 billion with a gross margin between 50% and 51%.

The Amsterdam-listed group 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 02:01 ET (06:01 GMT)

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