ASML Posts Mixed Q3 Earnings On Sluggish Market Fundamentals, Expects FY24 To Be A Transition Year
Portfolio Pulse from Lekha Gupta
ASML Holding NV reported Q3 FY23 net sales of €6.67 billion ($7.26 billion), missing the consensus of $8.53 billion. The company's Q3 net bookings were €2.60 billion, down from €8.92 billion a year ago. However, the gross margin increased to 51.9% due to DUV product mix and one-off costs impacts. The company also announced an interim dividend of €1.45 per share and repurchased around €100 million worth of shares. ASML expects 2024 to be a transition year with similar revenue to 2023.
October 18, 2023 | 9:59 am
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ASML's Q3 earnings missed expectations, but the company saw an increase in gross margin. The company expects 2024 to be a transition year, which could impact investor sentiment.
ASML's lower than expected Q3 earnings and the announcement of 2024 as a transition year could negatively impact the stock in the short term. However, the increase in gross margin and the company's share buyback program could provide some positive sentiment.
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