ASML: secnd-quarter operating profit below expectations

(CercleFinance.com) - Dutch semiconductor equipment maker ASML on Wednesday reported lower-than-expected quarterly profit of 905 million euros.


Analysts, meanwhile, expected the company's second-quarter operating profit to reach 960 million euros.

The chip equipment maker's net income stood at 751 million euros in the past quarter, up from 476 million euros last year, while its gross margin rose from 43% last year to 48.2%.

ASML posted second-quarter sales of 3.3 billion euros, up from 2.6 billion euros in the second quarter of 2019, and forecast third-quarter revenue between 3.6 billion euros and 3.8 billion euros, and gross margin between 47% and 48%.

"Our 2020 growth expectations are largely unchanged relative to our view at the start of the year," said group CEO Peter Wennink.

ASML's shares are down 0.7% in early trading on Euronext Amsterdam on Wednesday morning. They have risen by over 30% year-to-date.

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