Semiconductor gear maker ASML (ASML) on Wednesday beat analyst estimates for earnings within the third quarter however its gross sales got here up brief. Its income steerage additionally was mild. ASML inventory dropped in early buying and selling.
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The Dutch lithography gear specialist earned the equal of $4.97 a share on gross sales of $6.1 billion within the September quarter. Analysts anticipated ASML earnings of $4.61 a share on gross sales of $6.19 billion, in keeping with FactSet. Within the year-earlier interval, ASML earned $2.99 a share on gross sales of $4.65 billion. ASML studies monetary leads to euros.
For the present quarter, ASML forecast gross sales of $5.87 billion, primarily based on the midpoint of its outlook. Analysts had been searching for fourth-quarter gross sales of $6.12 billion, FactSet stated.
ASML Chief Monetary Officer Roger Dassen stated element shortages are impacting manufacturing and crimping gross sales.
ASML Inventory Drops On Report
In premarket buying and selling on the inventory market at this time, ASML inventory fell 2%, close to 784.65.
“The demand continues to be excessive,” ASML Chief Govt Peter Wennink stated in a information launch. “The continued digital transformation and present chip scarcity gas the necessity to enhance our capability to satisfy the present and anticipated future demand for reminiscence and for all logic nodes.”
He added, “For the total 12 months, we’re on observe to attaining progress approaching 35%.”
ASML inventory ranks second out of 32 shares in IBD’s semiconductor gear trade group, in keeping with IBD Inventory Checkup. It has an IBD Composite Score of 96 out of 99. IBD’s Composite Score combines 5 separate proprietary rankings into one easy-to-use ranking. One of the best progress shares have a Composite Score of 90 or higher.
Observe Patrick Seitz on Twitter at @IBD_PSeitz for extra tales on shopper expertise, software program and semiconductor shares.
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