ASML: share up on optimistic outlook for 2021

(CercleFinance.com) - On Wednesday ASML, the world's leading semiconductor production equipment maker, delivered an upbeat outlook for 2021 after reporting better-than-expected Q1 results.


The Dutch giant - often seen as a barometer of the European technology sector - posted net profit of 1.3 billion euros in the first three months of the year, well up from the 390 million euros posted a year ago.

Revenues soared to almost 4.4 billion euros, compared with 2.4 billion euros in the same period last year.

For 2021, ASML says it now expects sales growth of around 30%, well above the consensus of 17%.

In its press release, the Veldhoven-based group refers to a "significant" increase in demand in all its market segments and for all its product types.

While this is not a real surprise given the current shortage of semiconductors, these details are buoying ASML shares, which are the biggest riser in the Euro STOXX 50 index this morning, up over 5%, bolstering the STOXX Europe 600 Technology index, which includes European technology stocks, and is up 1.5%.


Copyright (c) 2021 CercleFinance.com. All rights reserved.